Why long-run of demand differ from short-run elasticities, Microeconomics

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Why long-run of demand differ from short-run elasticities

Why do long-run elasticities of demand differ from short-run elasticities? Consider two goods: paper towels and televisions. Which is a durable good? Would you expect the price elasticity of demand for paper towels to be larger in the short run or in the long run? Why? What about the price elasticity of demand for televisions?

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Microeconomics: Why long-run of demand differ from short-run elasticities

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Microeconomics: Why long-run of demand differ from short-run elasticities

Reference No:- TGS072201

Have a Question? (oR Write a Review)

Recent Questions Asked Microeconomics

Q : Qualitative or quantitative methods

Q : Practical managerial application of techniques

Q : Identify three management theories

Q : How much interest expense will we save

Q : Why long-run of demand differ from short-run elasticities

Q : Find the cost of goods manufactured

Q : Role of graphic designer for print and web designer

Q : How much is the conversion cost per unit

Q : Visiblity-information-emotion-workability

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Request for Solution File

Ask an Expert for Answer!!

Microeconomics: Why long-run of demand differ from short-run elasticities

Reference No:- TGS072201

Recent Questions Asked Microeconomics

Q : Qualitative or quantitative methods

Q : Practical managerial application of techniques

Q : Identify three management theories

Q : How much interest expense will we save

Q : Why long-run of demand differ from short-run elasticities

Q : Find the cost of goods manufactured

Q : Role of graphic designer for print and web designer

Q : How much is the conversion cost per unit

Q : Visiblity-information-emotion-workability

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