Examlex
Who conducted research supporting the parallel distributed processing model 30 years prior to its development?
Elastic
Describes a situation where the quantity demanded or supplied of a good is sensitive to changes in price.
Short Run
A period in economics during which the quantity of at least one input (such as plant size) is fixed and cannot be changed.
Long Run
A period in economics sufficient for all markets to adjust to equilibrium, including the adjustment of all production factors and prices of inputs.
Cross-Price Elasticity
A measure of how the demand for one good changes in response to a change in the price of another good.
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