Suppose tuition at your university were to increase 10 percent. What would the short-run response be? The long-run response? What kind of adjustments might be made?

With the increase in the production which cost Increases continuously?

The market research department of EZPub estimated that 5,000 textbooks would be purchased in Canada at a price of $100.00 each. As it turned out, the Canadian demand was 6,000. The company is in a(n) ________ condition.   options:   A)  growth   B)  surplus   C)  shortage   D)  inflation   E)  depression

a.  Define the terms “Short Run” and “Long Run”.  b. Would the short run be longer for Tonino’s Pizza Restaurant or for NASA? Explain.