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8 July, 18:50

The price elasticity of demand increases with the length of the period considered because

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  1. 8 July, 20:59
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    This is the full question

    The price elasticity of demand increases with the length of the period considered because

    a. consumers' incomes will increase over time.

    b. the demand curve will shift outward as time passes.

    c. all prices will increase over time.

    d. consumers will be better able to find substitutes

    Answer:

    d. consumers will be better able to find substitutes

    Explanation:

    As the period goes by, there is every probability that consumers will get substitutes to products and thus increase price elasticity of demand
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