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Using ordinary calculus techniques, we investigate the conditions under which LeChatelier effects are signable for finite changes in parameter values. We show, for example, that the short run demand for a factor is always less responsive to price changes than the long run demand, provided that...
Persistent link: https://www.econbiz.de/10005753255
Persistent link: https://www.econbiz.de/10007179468
Using ordinary calculus techniques, we investigate the conditions under which LeChatelier effects are signable for finite changes in parameter values. We show, for example, that the short run demand for a factor is always less responsive to price changes than the long run demand, provided that...
Persistent link: https://www.econbiz.de/10014150823