Which event describes a short-run adjustment for a gas station?
A) expansion of the adjacent convenience store
B) installation of new gas tanks
C) hiring ten more workers to stay open 24 hours
D) addition of a car wash
Correct Answer:
Verified
Q205: In the short run, firms
A) exhibit a
Q206: The short run is defined as a
Q207: The price elasticity of supply is the
Q208: In which period can firms decide to
Q209: Which event is a long-run adjustment for
Q211: The MAIN determinant of price elasticity of
Q212: The _ is so short that the
Q213: (Figure) The figure shows two supply curves
Q214: The long-run supply curve can have a
Q215: In the long run
A) the supply curve
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