The Short-Run Supply Curve in a Competitive Market Must Be

question 236

True/False

The short-run supply curve in a competitive market must be more elastic than the long-run supply curve.

---

Definitions:

TCP

Transmission Control Protocol, a core protocol of the Internet Protocol Suite that provides reliable, ordered, and error-checked delivery of data.

IP

Internet Protocol, a set of rules governing the format of data sent over the internet or other networks.

Static Address

A permanent Internet Protocol (IP) address assigned to a computer or device in a network, in contrast to a dynamically assigned IP address.

Dynamic Address

A changing IP address assigned by an internet service provider to a device each time it connects to the internet.