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Andrea Trejo
on Nov 10, 2024

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As the period for firms to expand output is lengthened, the elasticity of the market supply curve will

A) approach zero.
B) increase.
C) decrease.
D) remain the same since time does not affect the elasticity of market supply.

Market Supply

The total quantity of a good or service that sellers are willing and able to sell at a given price over a specific period.

Elasticity

Elasticity refers to the measure of how much the quantity demanded or supplied of a good changes in response to a change in price.

  • Elucidate on the elements influencing supply elasticity and its fluctuation from the short run to the long run.
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KK
kaneria krutikaNov 13, 2024
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