When a Government Is Overthrown and a Tyrant Takes Control,the

question 45

True/False

When a government is overthrown and a tyrant takes control,the tyrant has legitimate power.

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Definitions:

Long-Run Supply Curve

As it applies to macroeconomics, a supply curve for which price, but not real output, changes when the demand curves shifts; a vertical supply curve that implies fully flexible prices.

Downsloping

Typically describes a graph line that shows a decrease in a variable as another variable increases, often used in economics to illustrate concepts like demand curves.

Profit-Maximizing

The technique a firm uses to ascertain the optimal pricing and production levels for achieving maximum profit.

Short Run

A period in which at least one input (like plant and equipment) is fixed and cannot be changed by a business.