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Suppose that the short - run price elasticity of demand for electricity is 0 . 0 3 , and the long - run price elasticity
Suppose that the shortrun price elasticity of demand for electricity is and the longrun price elasticity of demand is One would classify the shortrun elasticity as being and the longrun elasticity as being
Multiple Choice
elastic; inelastic
elastic; elastic
inelastic; elastic
inelastic; unit elastic
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