Examlex
Evaluate.
-The volume of a cube with sides of length s is given by . Find the volume of the cube.
Short Run
A period in economic theory during which at least one factor of production is fixed, limiting the capacity to adjust to changes in market demand.
Elastic
Describes a situation where the quantity demanded or supplied of a good is sensitive to changes in price.
Short Run
A period in economics during which the quantity of at least one input (such as plant size) is fixed and cannot be changed.
Long Run
A period in economics sufficient for all markets to adjust to equilibrium, including the adjustment of all production factors and prices of inputs.
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