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The America's Promise Alliance,founded in 1997,focuses on five promises.Which of the following is not one of those promises?
Supply Elasticities
Measures of how responsive the quantity supplied of a good is to a change in its price.
Long-Run Equilibrium
A state in which all factors of production and outputs are adjustable, and all economic processes are fully adapted to any changes.
Competitive Supply
The total quantity of a good or service that is available to consumers, determined by the sum of all individual suppliers’ quantities at each price level in a competitive market.
Elasticity of Supply
An evaluation of the extent to which the amount of a good provided alters as a result of variations in its price.
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