The Price Elasticity of Supply for Milk in the Short

question 13

Multiple Choice

The price elasticity of supply for milk in the short run has been estimated to be 0.36, while the price elasticity of supply for milk in the long run is estimated to be 0.51.That means the supply of milk is:

• A) less elastic in the short run than in the long run.
• B) elastic in both the short run and the long run.
• C) relatively more elastic (that is, less inelastic) in the long run than in the short run.
• D) relatively less elastic (that is, more inelastic) in the long run than in the short run.

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Definitions:

Airborne Precautions

Infection control measures taken to prevent disease transmission through air currents, relevant for pathogens that can travel on dust particles or small respiratory droplets.

Standard Precautions

A set of infection control practices used to prevent transmission of diseases that can be acquired by contact with blood, bodily fluids, non-intact skin, and mucous membranes.

Tuberculosis (TB)

A serious infectious disease caused by the bacterium Mycobacterium tuberculosis that primarily affects the lungs but can spread to other parts of the body.

AFB Smear

A laboratory test that involves staining a sample and examining it under a microscope to identify acid-fast bacilli, commonly used to diagnose tuberculosis.