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Question: d both a and b are correct o e all...

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D. both A and B are correct. O E. all of the above. paper towels and televisions. Which is a durable good? te Would you expect the price elasticity of demand for paper towels to be larger in the short run or in the long run? Why? The price elasticity of demand for paper towels should be larger A. in the long run as new substitutes enter the market O B. in the long run because paper towels are made in a cyclical industry 0 C. in the long run because some firms may be constrained by production capacity. O D. in the short run because it takes time for people to respond to price changes. E. in the short run because paper towels are non-durable What about the price elasticity of demand for televisions? The price elasticity of demand for televisions should be larger O A. in the short run because it takes time for people to change their consumption habits. O B. in the short run as new substitutes enter the market 0 C. in the short run because televisions are durable O D. in the long run because some firms may be constrained by production capacity O E. in the long run because televisions are not made in a cyclical industry Click to select your answer and then click Check Answer All parts showing Clear A

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