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For OutBack Steakhouse,seating Capacity Is Limited in the Short Run

Question 60

Multiple Choice

For OutBack Steakhouse,seating capacity is limited in the short run.In the long run they can add as many seats as they want.Therefore,the price elasticity of supply for the meals in OutBack would be _____ in the short run than in the long run.


A) higher
B) lower
C) the same
D) more variable

Correct Answer:

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