Short and Long Run Elasticities in Consumer Demand Theory

Abraham Subotnik

American Journal of Agricultural Economics, 1974, vol. 56, issue 3, 553-555

Abstract: 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.

Date: 1974
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