Compared to the Short-Run Demand, the Long-Run Demand for a Resource

question 84

Multiple Choice

Compared to the short-run demand, the long-run demand for a resource is

• A) less elastic.
• B) more elastic.
• C) equally elastic.
• D) either more or less elastic; we cannot predict which.

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Definitions:

Wrongful Discharge Suit

A legal claim brought by an employee against an employer, alleging termination of employment for unlawful reasons.

Legitimate Business Reasons

Justifiable, lawful motives driving business decisions or actions, typically based on economic, efficiency, or policy considerations.

Employment-At-Will Rule

A legal doctrine stating that an employer can terminate an employee at any time without any reason, as long as it is not unlawful.

Public Policy Exception

An exception to the enforcement of contracts or agreements when they conflict with the public interest or established norms of fairness and justice.