The Key Difference Between Supply in the Short Run and Supply

question 145

Multiple Choice

The key difference between supply in the short run and supply in the long run is the assumption that firms:

• A)are able to enter and exit the market in the short run.
• B)are able to enter and exit the market in the long run.
• C)will not collude in the short run.
• D)will have a total supply that is constant in the long run.

---

Definitions:

Genetic Background

An individual's unique set of genes that contributes to their physical and physiological traits inherited from their parents.

Subcutaneous Fat

The layer of fat located just beneath the skin, which serves as insulation and energy storage for the body.

Skinfold Measurement

A method for estimating body fat percentage by measuring the thickness of skinfolds at various body sites.

Female Athlete Triad

A syndrome in some physically active females characterized by low energy availability, menstrual dysfunction, and decreased bone mineral density.