In the Long Run, Demand Is ______ the Short Run

question 53

Multiple Choice

In the long run, demand is ______ the short run.

• A) more elastic than in
• B) less elastic than in
• C) equally elastic as in
• D) indeterminately different in elasticity as compared with

---

Definitions:

Rivets Per Minute

Measure of the speed at which riveting operations are performed, typically in manufacturing or construction settings.

MRP Of Land

The Marginal Revenue Product of Land is the additional revenue generated from the use of an additional unit of land, holding other factors constant.

Rent

Rent refers to the payment made periodically by a tenant to a landlord in exchange for the use of land, a building, property, or other assets.

Marginal Revenue Product

Marginal Revenue Product is the additional revenue gained from employing one more unit of a resource, crucial for determining how much of a resource to employ.