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

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

Quizplus · Accepted Answer

The elasticity of supply tends to increase over time because producers have more time to adjust their production and resources in response to price changes.

The Longer the Time Period Considered, the Elasticity of Supply