Why Is Supply More Likely to Be Inelastic in the Short

question 6

Essay

Why is supply more likely to be inelastic in the short run especially during strong periods of economic growth?

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Definitions:

Freedom

The power or right to act, speak, or think as one wants without hindrance or restraint.

Ethical Dilemma

A situation where a person is faced with a choice that involves a conflict between two moral imperatives, neither of which is unambiguously acceptable or preferable.

Clear Decision

An unambiguous and definitive resolution or ruling on a matter, leaving no room for confusion or doubt.

Firm

A business organization, such as a company or partnership, engaged in commercial, industrial, or professional activities.