The long-run price elasticity of demand for electricity is ________ the short-run price elasticity of demand for electricity
A) greater than
B) less than
C) equal to
D) not comparable to
E) unrelated to
A
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Explain with examples the reasoning behind the positive slope of the LRAC curve at higher levels of output
The alternative combinations of goods and services that can be produced in a given time period with the available resources and technology is the:
A. Production possibilities. B. Consumption possibilities. C. International trade balance. D. Comparative advantage.
Figure 10-6
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In Figure 10-6, which graph best illustrates an adverse supply shock accompanied by an increase in government spending?
A. -1 B. -2 C. -3 D. -4
Accumulating debt poses a problem for the U.S. federal government because
A) it is currently in danger of defaulting on the debt. B) a large debt-to-GDP ratio causes crowding out. C) building roads and bridges do not yield enough benefits to justify their cost. D) the debt has to ultimately be paid off.