The longer the time period considered, the more the elasticity of supply tends to:
A) decrease
B) remain constant
C) increase
D) converge to zero

Name: The longer the time period considered, the more the elasticity of supply tends to: A) decrease B) remain constant C) increase D) converge to zero
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Over a longer time period, producers have more time to adjust their production levels in response to price changes, making the supply more elastic.

The Longer the Time Period Considered, the More the Elasticity