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Economists Distinguish Among the Immediate Market Period, the Short Run

Question 313

Multiple Choice

Economists distinguish among the immediate market period, the short run, and the long run by noting that


A) supply is most elastic in the short run and least elastic in the immediate market period.
B) demand is most elastic in the short run, and least elastic in the long run.
C) supply is most elastic in the long run and least elastic in the immediate market period.
D) supply is most elastic in the short run and least elastic in the long run.

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