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Bernadette Villamor
on Dec 12, 2024

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Generally, the demand for energy in the long run will be

A) approximately equal in elasticity to the demand for energy in the short run.
B) considerably less elastic than in the short run.
C) considerably more elastic than in the short run.
D) perfectly inelastic because we must have energy to survive.

Elasticity

A measure of how much buyers and sellers respond to changes in market conditions, particularly price changes.

Energy

The quantitative property that must be transferred to an object in order to perform work on, or to heat, the object, existing in various forms such as kinetic, potential, thermal, and others.

  • Gain insight into the behavior of energy demand over short and long durations.
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SM
Sameen MalikDec 13, 2024
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