If It Is Difficult to Substitute for a Good in the Short

question 64

Multiple Choice

If it is difficult to substitute for a good in the short run, but easy in the long run, then

• A)the elasticity of demand is more elastic in the short run.
• B)the elasticity of demand is more elastic in the long run.
• C)the good is an inferior good.
• D)elasticity changes along the demand curve.

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Definitions:

Employment Discrimination

The unfair treatment of employees or job applicants based on characteristics such as race, gender, or age, rather than job performance or qualifications.

Productivity

The measure of the efficiency of a person, machine, factory, system, etc., in converting inputs into useful outputs.

Similar Productivity Characteristics

Attributes that enable different firms or workers to produce outputs at comparable rates, efficiency levels, or with similar resource requirements.

Employment Discrimination

Unfair treatment of employees or job applicants based on personal attributes such as race, gender, age, or sexual orientation, rather than their qualifications or performance.