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The long-run labor demand curve is relatively flatter than the short-run labor demand curve because,in the short run,
Combination
A selection of items or elements without regard to the order in which they are selected.
Indifference Curves
Graphical representations in economics showing different combinations of two goods that provide equal satisfaction and utility to an individual.
Utility
A financial concept that denotes the overall pleasure obtained from using a product or service.
Indifference Curve
A graphical representation showing different combinations of two goods that provide a consumer with the same level of satisfaction or utility.
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