In the Long Run, a Firm's Demand Curve for a Resource

question 97

Multiple Choice

In the long run, a firm's demand curve for a resource is:

• A)more elastic than it is in the short run.
• B)less elastic than it is in the short run.
• C)perfectly elastic.
• D)as elastic as it is in the short run.

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Definitions:

Expertise

Expertise is the high level of knowledge, skill, or competence in a particular area, acquired through experience, education, or training.

Reference

A source of information or a mention of a source, often used to substantiate claims or as a guide to further information.

Visionary Leadership

Leadership that brings to the situation a clear sense of the future and an understanding of how to get there.

Compelling Sense

An irresistible urge or an intense feeling that drives action.