Question

When comparing a good over a long time to the same good over a short period of time, the longer time period will demonstrate an elasticity of demand that is:_________

Answer 1

higher

Step-by-step explanation:

The elasticity of demand may be defined as the economic measure where the change in the demand of a quantity or a goods purchased is related to the change in the price of the product. It is related to the quantity demanded and its price.

When a good is compared over a long time to the same good for a short time, the elasticity of demand for the good with longer time period will be higher.