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What Is the Difference Between Short-Run Equilibrium and Long-Run Equilibrium

question 118

Essay

What is the difference between short-run equilibrium and long-run equilibrium in the goods and services market?


Definitions:

Dendrites

Branchlike extensions of the neuron’s cell body with receptors that receive information from other neurons.

Neighboring Neurons

Neurons that are situated closely together, allowing for communication and the transmission of nerve impulses between them.

Peripheral Nervous System

The part of the nervous system that consists of the nerves and ganglia outside of the brain and spinal cord.

Sympathetic

Referring to the part of the autonomic nervous system that increases bodily readiness for action during times of stress.

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