If the price of forest-products rises, the price elasticity of supply will be more responsive in the long run than in the short run.

Question

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In the long run, forest owners may be able to increase their land holdings, develop new plantations, or switch to more profitable uses of their land, resulting in a more responsive supply. In the short run, forest owners may not be able to make significant adjustments to their harvesting rates, resulting in a less responsive supply.

If the Price of Forest-Products Rises, the Price Elasticity of Supply