Principles of Economics, 7th Edition

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: 8

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.
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