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Business, 13.10.2021 04:30 daltondespain2

Suppose the short-run demand for a good is relatively more inelastic than long-run demand. A given rightward shift in the supply curve will lead to a a. smaller decrease in price in the long run compared to the short run

b. smaller increase in quantity demanded in the long run compared to the short run

c. a larger decrease in price in the long run compared to the short run

d. a smaller decrease in both price and quantity demanded in the long run compared to the short run

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Suppose the short-run demand for a good is relatively more inelastic than long-run demand. A given r...
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