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Author Question: The short-run price elasticity of demand for refrigerators is relatively inelastic. Indicate ... (Read 46 times)

danielfitts88

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on: Jul 1, 2018
The short-run price elasticity of demand for refrigerators is relatively inelastic.
 
  Indicate whether the statement is true or false

Question 2

For all goods, the long run demand curve is always more elastic than the short run demand curve.
 
  Indicate whether the statement is true or false


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s.meritte

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Reply #1 on: Jul 1, 2018
Answer to Question 1

False. People can put off buying a refrigerator in the short run. Therefore demand is elastic in the short run.

Answer to Question 2

False. Goods that can be easily stored may have a more elastic short run demand curve than long run.


danielfitts88

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Reply 2 on: Jul 1, 2018
Great answer, keep it coming :)

jomama

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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