The price elasticity of supply tends to become more elastic in the long run.

Name: The price elasticity of supply tends to become more elastic in the long run.
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Question

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In the long run, suppliers have more time to adjust their production levels and respond to changes in price. This means that they can find alternative inputs or production methods that are less expensive, and therefore supply more at a lower price. As a result, the price elasticity of supply increases, making it more elastic.

The Price Elasticity of Supply Tends to Become More Elastic