Answer
Market supply curves are typically more elastic in the long run. With more time, market suppliers can change how much of a good is produced. So, the quantity supplied is more sensitive to price changes.
Principles of Economics, 7th Edition
by Mankiw, N. Gregory
Published by
South-Western College
ISBN 10:
128516587X
ISBN 13:
978-1-28516-587-5
Chapter 14 - Part V - Firms in Competitive Markets - Questions for Review - Page 296: 8
Update this answer!
You can help us out by revising, improving and updating this answer.
Update this answerAfter you claim an answer you’ll have 24 hours to send in a draft. An editor will review the submission and either publish your submission or provide feedback.
