(Answered) Demand is usually.in the short run than in the long run.Select the correct answer below:O flatter…

➤ When should economists use short-run versus long-run elasticity estimates?
Use short-run elasticity for immediate policy, taxation, or pricing impacts. Use long-run elasticity for strategic planning, investment, and regulation that unfold over years. Short-run estimates capture limited adjustment; long-run estimates include substitution, new technologies, and full market responses.