The longer any price change persists, the
A) more difficult it is to alter quantity demanded.
B) greater is the price elasticity of demand.
C) lower is the price elasticity of demand.
D) more likely price will return to its original level.

Question

Quizplus · Accepted Answer

The longer a price change persists, the more consumers adjust their behavior, making the demand more price elastic as they find alternatives or adjust their preferences.

The Longer Any Price Change Persists, the