Supply and Demand Both Tend to Be More Elastic in the Long

question 2

True/False

Supply and demand both tend to be more elastic in the long run and more inelastic in the short run.

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Definitions:

Counting

The action of determining the total number of items in a group by assigning them numerical order.

Irrational

Thinking or behavior that lacks reason or logic, often driven by emotions rather than factual reasoning.

Major Depressive Disorder

A mental health disorder characterized by persistent feelings of sadness, loss, or anger that interfere with one's daily activities.

Heritability

The proportion of variation among individuals in a population that can be attributed to genetic variations.