For nondurable goods, _____.
A)the short-run demand curve is less elastic than the long-run demand curve
B)the short-run demand curve is more elastic than the long-run demand curve
C)the short-run demand curve is unit elastic
D)the short-run demand curve is perfectly elastic
E)the short-run demand curve is perfectly inelastic

Question

Quizplus · Accepted Answer

In the short run, consumers have less time to adjust their consumption habits for nondurable goods, making the demand curve less elastic. Over time, as consumers find alternatives or adjust their preferences, the demand becomes more elastic, indicating a greater sensitivity to price changes in the long run.

For Nondurable Goods, _____