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प्रश्न
How does the time period affect the elasticity of demand?
पर्याय
Short periods have inelastic demand, while long periods have elastic demand.
Time period has no influence on price elasticity of demand.
Both short and long periods always result in elastic demand.
Short periods always have elastic demand, while long periods have inelastic demand.
MCQ
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उत्तर
Short periods have inelastic demand, while long periods have elastic demand.
Explanation:
In short periods, consumers cannot adjust easily. In long periods, they can find alternatives, making demand elastic.
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