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1. Consider the market for a particular type of computer memory chip. Would you expect the long-run (own-price) elasticity of supply to be larger or smaller than the short-run elasticity? Why?
2. Consider the market for new automobiles in Canada. Would you expect the long-run (own-price) elasticity of demand to be larger or smaller than the short-run elasticity? Why?
The following information has been extracted from the recently published accounts of Noddy Plc: Balance sheet as at 31 st May
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what is the importance of credit multiplier
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