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What is the actor's instrument?
Organizing Function
A core management function that involves arranging people, tasks, and resources to work together to implement plans and achieve stated objectives.
Elastic
A term used to describe a situation where the demand or supply of a good or service is sensitive to changes in price.
Inelastic
A characteristic of goods or services for which demand or supply does not significantly change in response to price changes.
Long Run
A period of time in which all factors of production and costs are variable, allowing for adjustment to changing market conditions.
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