The Short-Run Elasticity of Supply Is Less Than the Long-Run

question 91

Multiple Choice

The short-run elasticity of supply is less than the long-run elasticity of supply

• A) because consumers' tastes and preferences change in the long run but not in the short run.
• B) because producers can adjust the amount of machinery in the long run but not in the short run.
• C) only for durable goods.
• D) only for nondurable goods.

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Definitions:

Serum Sodium Level

The concentration of sodium in the blood, an important measure for assessing electrolyte balance and hydration status.

Infiltration

The process by which a fluid passes into tissues, often referring to the unintentional infusion of intravenous fluid into the surrounding tissue.

Blood Transfusion

The process of transferring blood or blood products from one person into the circulatory system of another, used to replace lost components of the blood, often in surgeries or for patients with blood disorders.

Vital Signs

Clinical measurements that indicate the state of a patient's essential bodily functions, including temperature, pulse, respiration, and blood pressure.