For electricity, natural gas, or other forms of energy, it is very likely that the price elasticity of demand
A) is zero.
B) is infinite.
C) will decrease in magnitude as more time passes after a price change.
D) will increase in magnitude as more time passes after a price change.

Question

Quizplus · Accepted Answer

Over time, consumers have more opportunities to adjust their behavior and find alternatives, leading to an increase in the magnitude of price elasticity of demand.

For Electricity, Natural Gas, or Other Forms of Energy, It