The text tells us that there are long-run elasticities and short-run elasticities. a. How long is the
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The text tells us that there are long-run elasticities and short-run elasticities.
a. How long is the long run and how long is the short run?
b. What meaning do the elasticity measures have if you don’t know those lengths? (Austrian)
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a Duration of the Long Run and Short Run The exact duration of the long run and short run is not pre...View the full answer
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