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1- Whenever demand conditions change, the dynamics of equilibrium prices will be different depending on the length of time allowed for firms' supply responses. True

1- Whenever demand conditions change, the dynamics of equilibrium prices will be different depending on the length of time allowed for firms' supply responses. True or False?

2- In the very short-run:

A)-supply is perfectly elastic.

B)-demand elasticity is unitary.

C)-market demand is fixed.

D)-market supply is fixed.

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