For OutBack Steakhouse,seating Capacity Is Limited in the Short Run

question 60

Multiple Choice

For OutBack Steakhouse,seating capacity is limited in the short run.In the long run they can add as many seats as they want.Therefore,the price elasticity of supply for the meals in OutBack would be _____ in the short run than in the long run.

• A)higher
• B)lower
• C)the same
• D)more variable

---

Definitions:

Macro-Objective Level

Analysis or perspective focused on large-scale structures and processes, treating them as objective realities that influence social behaviors and institutions.

George Ritzer

A sociologist from America recognized for his contributions to the study of consumer culture, global dynamics, and the process he describes as the McDonaldization of society.

Macroscopic Capitalism

A perspective on capitalism that examines its broad-scale economic patterns, structures, and systemic impacts on society.

Microscopic Alienation

The sense of estrangement or disconnection experienced at a personal or individual level, often in relation to work or societal norms.