The short-run price elasticity of demand for refrigerators is relative

The short-run price elasticity of demand for refrigerators is relatively inelastic.

Indicate whether the statement is true or false

 

ANSWER

False. People can put off buying a refrigerator in the short run. Therefore demand is elastic in the short run.

 

Expert paper writers are just a few clicks away

Place an order in 3 easy steps. Takes less than 5 mins.

Calculate the price of your order

You will get a personal manager and a discount.
We'll send you the first draft for approval by at
Total price:
$0.00