economic lowdown video series—video 2: factors that influence price elasticity of demand\n4 of 6\nprice…

economic lowdown video series—video 2: factors that influence price elasticity of demand\n4 of 6\nprice elasticity tends to be higher in the long run because:\nconsumers are more sensitive to price changes\nconsumers have more time to find substitutes\ngoods become more expensive over time\nmarket competition decreases

economic lowdown video series—video 2: factors that influence price elasticity of demand\n4 of 6\nprice elasticity tends to be higher in the long run because:\nconsumers are more sensitive to price changes\nconsumers have more time to find substitutes\ngoods become more expensive over time\nmarket competition decreases

Answer

Brief Explanations:

In the long - run, consumers have more time to search for and switch to substitute goods when prices change, increasing price elasticity of demand.

Answer:

Consumers have more time to find substitutes