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up to question 4

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Anthony Fadly 1 year ago
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1. The elasticity of demand is **higher** in the **long** run because consumers
have **MORE** time to adjust.
2. An Elasticity of 1.0 or greater = **elastic** demand
3. An Elasticity of exactly 1.0 = **unit elastic** demand
4. An Elasticity of between 0 and 1.0 = **inelastic** demand

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