Supply Is Highly Elastic in the Market Period but Tends

question 204

True/False

Supply is highly elastic in the market period but tends to become more inelastic in the long run.

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Definitions:

U.S. Households

Pertains to living units in the United States where individuals or groups of people reside, commonly forming a family or household unit.

1970

A year marked by significant global and national events, considered part of the late 20th century historical context.

Dual-Income Families

Households in which both partners earn income from employment, becoming increasingly common in modern societies.

Paid Family Leave

An employee benefit that provides paid time off work to care for a family member or for childbirth or adoption.