11.) Typically the elasticity of supply is more elastic in the ______________ (short-run, long-run).
11.) Typically the elasticity of supply is more elastic in the ______________ (short-run, long-run).
Homework Answers
Answer : long run
Explanation
1) supply is the amount of goods offered for sale in the particular time period
2) normally supply is more elastic in long run because, the supplier have longer time period to change the factors of production (say land, labor, capital, technology organization)
3) supply is price inelastic in short run because time availability is less and supplier is unable to change the factors of production ( land, capital, technology)
4) in short run only labor can changed ( supply increased only with the labor change in the short run)
5) in long run all the factors of production are variable and increases the production.
6) supply and demand both are elastic in long run
Add Answer to:
11.) Typically the elasticity of supply is more elastic in the
______________ (short-run, long-run).
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Why is the long run market supply curve generally more elastic than the short run supply curve? Can you give some exampl...
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10. Price elasticity of supply in the short run and long run The following graph shows...
10. Price elasticity of supply in the short run and long
run
The following graph shows the short-run supply curve for
pears.
Place the orange line (square symbol) on the graph to show the
most likely long-run supply curve for pears. (Note: Place the
points of the line either on T and I or on T and X.)
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The short run supply of a human resource will be more elastic in which situation?
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we learned that the long-run supply curve is perfectly elastic, or horizontal. We also learned, however,...
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Related to Application: The Short-Run and Long-Run Elasticity of Supply of Coffee Short Run vs. Long Run in the Pear Market. Suppose in the production of pears, the short-run supply elasticity is 0.25, while the long-run supply elasticity is 3.60. In the short run, a 20.00% increase in the price of pears will cause the quantity supplied of pears to O A. fall by 3.50 percent. O B. fall by 5.00 percent. O C. rise by 3.50 percent. OD. rise...
10. Price elasticity of supply in the short run and long
run
The following graph shows the short-run supply curve for
pears.
Place the orange line (square symbol) on the graph to show the
most likely long-run supply curve for pears. (Note: Place the
points of the line either on T and I or on T and X.)
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