Premium
Short and Long Run Elasticities in Consumer Demand Theory
Author(s) -
Subotnik Abraham
Publication year - 1974
Publication title -
american journal of agricultural economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.949
H-Index - 111
eISSN - 1467-8276
pISSN - 0002-9092
DOI - 10.2307/1238607
Subject(s) - elasticity (physics) , economics , price elasticity of demand , consumer demand , short run , microeconomics , econometrics , composite material , materials science
Contrary to statements frequently made in the literature, the own elasticity of demand is not necessarily smaller in the short run than in the long run. It is also shown that the availability of new commodities will not necessarily increase the own elasticity of demand for the existing commodities.