Explain why the long-run demand for durable goods is more income elastic than the short-run demand. Is

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Explain why the long-run demand for durable goods is more income elastic than the short-run demand. Is this also the case for non-durables?

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Microeconomics An Intuitive Approach with Calculus

ISBN: 978-0538453257

1st edition

Authors: Thomas Nechyba

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Posted Date: Mar 26, 2024 11:07 AM

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Explain why the long-run demand for durable goods is more income elastic than the short-run demand. Is

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The longrun demand for durable goods tends to be more income elastic than the shortrun demand due to several factors 1 Time Horizon In the long run co... View the full answer

Microeconomics An Intuitive Approach with Calculus

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