Short and Long Run Elasticities in Consumer Demand Theory

Research output: Contribution to journalArticlepeer-review

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 ran. It is also shown that the availability of new commodities will not necessarily increase the own elasticity of demand for the existing commodities.

Original languageEnglish
Pages (from-to)553-555
Number of pages3
JournalAmerican Journal of Agricultural Economics
Volume56
Issue number3
DOIs
StatePublished - Aug 1974
Externally publishedYes

Keywords

  • Demand elasticities
  • Length of run
  • New commodities

ASJC Scopus subject areas

  • Agricultural and Biological Sciences (miscellaneous)
  • Economics and Econometrics

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