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- A long-run demand curve, as
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Card 13 / 47: A long-run demand curve, as compared to a short-run demand curve for the same commodity, is generally:
A)
more elastic
B)
less elastic
C)
of the same elasticity
D)
steeper if the curves are plotted against the same horizontal scale.
E)
none of the above.
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Attribution:
Levy, Frank. 11.203 Microeconomics, Fall 2010. (MIT OpenCourseWare: Massachusetts Institute of Technology), http://ocw.mit.edu/courses/urban-studies-and-planning/11-203-microeconomics-fall-2010 (Accessed 13 Mar, 2014). License: Creative Commons BY-NC-SA
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