If the price elasticity of supply for boots is 1.0 in the short run, then in the long run, we would expect the price elasticity of supply to become less that 1.0.

Name: If the price elasticity of supply for boots is 1.0 in the short run, then in the long run, we would expect the price elasticity of supply to become less that 1.0.
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Quizplus · Accepted Answer

Typically, the price elasticity of supply increases in the long run because producers have more time to adjust their production and resources in response to price changes.

If the Price Elasticity of Supply for Boots Is 1