It a product requires a unique input, price elasticity of supply will berelative to the price elasticity of supply of a product that does not require a unique input. Icss clastic in the short run, but morc clastic in the long run more elastic in both the short run and in the long run less elastic In both the short run and In the long run more elastic in the short runand less elastic in the long run

It a product requires a unique input, price elasticity of supply will berelative to the price elasticity of supply of a product that does not require a unique input. Icss clastic in the short run, but morc clastic in the long run more elastic in both the short run and in the long run less elastic In both the short run and In the long run more elastic in the short runand less elastic in the long run

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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FC VC TC MC AFC AVC ATC 1 12 2 100 4 46 30 11 6.
FC VC TC MC AFC AVC ATC 1 12 2 100 4 46 30 11 6.
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