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gisellerol gisellerol
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A year ago
Given that elasticity of supply changes over time, in the short run an increase in demand will generally cause

▸ the price to rise above its long-run equilibrium value.

▸ both price and quantity exchanged to rise above their long-run equilibrium values.

▸ supply to change.

▸ the price to rise to a level below its long-run equilibrium value.

▸ the quantity exchanged to rise above its long-run equilibrium value.
Textbook 
Microeconomics

Microeconomics


Edition: 17th
Author:
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mbiij16mbiij16
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A year ago
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Thanks for your help!!
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Good timing, thanks!
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