Demand tends to be
A)more elastic in the short-term than in the long-term.
B)more inelastic in the short-term than in the long-term.
C)equally elastic in the short-term and in the long-term.
D)neither more elastic, more inelastic nor equally elastic than in the short-term and in the long-term.

Question

Quizplus · Accepted Answer

Demand is generally more inelastic in the short-term because consumers and producers have less time to adjust their behavior, whereas in the long-term, they can find alternatives or substitutes, making demand more elastic.

Demand Tends to Be