Examlex
Which of the following is true of tiered infrastructure?
Cigarettes
Narrow cylindrical rolls of finely cut tobacco encased in paper, intended for smoking.
Supply Curve
A graphical representation that shows the relationship between the price of a good or service and the quantity of that good or service that suppliers are willing to offer for sale.
Perfectly Elastic
A situation in economics where the quantity demanded or supplied changes by an infinite amount in response to any change in price; horizontal demand or supply curve.
Elastic in the Long Run
Describes a situation where the quantity demanded or supplied of a good or service responds significantly to price changes over a longer period.
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