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corie corie
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Posts: 767
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6 years ago
Generally, long-run elasticities of supply are
A) greater than short-run elasticities, because existing inventories can be exploited during shortages.
B) greater than short-run elasticities, because consumers have time to find substitutes for the good.
C) greater than short-run elasticities, because firms can make alterations to plant size and input combinations to be more flexible in production.
D) smaller than short-run elasticities, because the firm has made long-term commitments it cannot easily modify.
E) the same as short-run elasticities, because technology is not assumed to change in the long-run adjustment process.
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Microeconomics

Microeconomics


Edition: 8th
Author:
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oracledarrenoracledarren
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6 years ago
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corie Author
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6 years ago
Brilliant ツ
kevin12323h
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Thanks for your help!!
homework1
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2 hours ago
Just got PERFECT on my quiz
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