If a Change in Market Demand Results in No Change

question 31

True/False

If a change in market demand results in no change in price in the long run, then it is true that the long-run industry supply curve does not exist.

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Definitions:

Expert Power

The ability to influence others based on the possession of knowledge, skills, or experience that others value.

Constructs Overlap

A situation where different theoretical concepts share similar meanings, attributes, or elements.

Clear Differences

Obvious, unmistakable distinctions or contrasts between entities or situations.

Personal Power

An individual's ability to influence others based on their personal attributes or qualities, rather than formal authority or position.