Both the Elasticities of Demand and Supply Tend to Be

question 59

True/False

Both the elasticities of demand and supply tend to be more elastic in the long-run.

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Definitions:

Sensory Tracts

Pathways in the nervous system that relay sensory information from the body to the brain.

Dorsal Tracts

Nerve pathways in the spinal cord that transmit sensory information from the body to the brain.

Acute

A condition or phenomenon that is severe but of a short duration, often referring to illness or symptoms.

Household Chores

Tasks and activities performed to maintain and manage a home, including cleaning, cooking, and laundry.