Question

The elasticity of demand of durable goods is: (1 Point)  1Less elastic  2Infinite elastic 3 Zero elastic 4More elastic​

Answer 1

Answer:

More elastic

Explanation:

The elasticity of demand for durable goods is greater than unity. The price elasticity of demand for durable goods is generally more elastic in the short-run than in long run. That is, the quantity demanded is more sensitive to price changes of such durable goods in the short run and not so much in the long run.