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Author Question: FIGURE 4-3Refer to Figure 4-3, which shows a demand shift and the short-run and long-run supply ... (Read 65 times)

joe3899

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on: Oct 12, 2022




FIGURE 4-3

Refer to Figure 4-3, which shows a demand shift and the short-run and long-run supply curves for some product. Which of the following best explains why the long-run supply curve (SL) is more elastic than the short-run supply curve (SS)?


◦ In the long run, firms have less ability to adjust the quantity of inputs to production.
◦ In the long run, firms prefer to adjust to changes in demand by adjusting the price of their product.
◦ Firms have less ability to adjust output levels to changes in price in the long run.
◦ Firms can more easily adjust their supply in the short run than in the long run.
◦ Firms are more able to adjust levels of production in the long run than in the short run.
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by joe3899 on Oct 12, 2022

koung719

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Reply #1 on: Oct 12, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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joe3899

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Reply 2 on: Oct 12, 2022
YES! Correct, THANKS for helping me on my review

frankwu0507

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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