The Expansion of Capital That Can Occur in the Long-Run

question 50

Multiple Choice

The expansion of capital that can occur in the long-run but not,by definition,in the short-run,means that the long-run supply is

• A) perfectly horizontal while the short-run supply curve is upward sloping.
• B) sloping downwards while the short-run supply curve is upward sloping.
• C) less elastic than the short-run supply curve.
• D) more elastic than the short-run supply curve.

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Definitions:

Cumulative Total

The sum of all values in a sequence, typically used in reference to numerical data or financial transactions.

Frequency

The rate at which something occurs over a particular period of time or in a given sample.

Deming Approach

A continuous quality improvement model consisting of a logical sequence of four key stages: Plan, Do, Check, Act (PDCA).

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