Similar to the elasticity of demand, the elasticity of supply tends to become more elastic in the long run.

Name: Similar to the elasticity of demand, the elasticity of supply tends to become more elastic in the long run.
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In the long run, producers have more flexibility to adjust their production processes and inputs, which allows them to increase or decrease their output more easily. This leads to a greater responsiveness of supply to changes in price, making it more elastic.

Similar to the Elasticity of Demand, the Elasticity of Supply