Over longer periods of time, demand tends to become less elastic. perfectly inelastic. more elastic. When there are fewer substitutes, demand tends to be perfectly inelastic. more elastic. less elastic.

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Business

Ashton Miles

19 July, 10:18

Over longer periods of time, demand tends to become less elastic. perfectly inelastic. more elastic. When there are fewer substitutes, demand tends to be perfectly inelastic. more elastic. less elastic.

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Adolfo Leonard · Answer 1

Over longer periods of time, demand tends to become more elastic.

When there are fewer substitutes, demand tends to be less elastic.

Explanation:

Over longer period of time demand tend to be more elastic because the greater availability of close substitutes of a good the better consumers are able to respond to change in price.