For durable goods, the long-run price elasticity of this quantity's secondary form is smaller compared to its short-run elasticity, which is always positive. When this quantity's curve shifts to the right, the market-clearing price drops. When input costs drop, a rightward shift is seen in this quan
For durable goods, the long-run price elasticity of this quantity's secondary form is smaller compared to its short-run elasticity, which is always positive. When this quantity's curve shifts to the right, the market-clearing price drops. When input costs drop, a rightward shift is seen in this quantity's upward-sloping curve. Name this economic concept describing the amount of a good available in a market, often contrasted with demand.
For durable goods, the long-run price elasticity of this quantity's secondary form is smaller compared to its short-run elasticity, which is always positive.