Question: (a)What is the difference (conceptually) between the short run price and income elasticities of the demand for energy and the long run price and income

(a)What is the difference (conceptually) between the short run price and income elasticities of the demand for energy and the long run price and income elasticities of the demand for energy? Why are the measured long-run elasticities of energy larger than measured short-run elasticities?

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