Answered: Supply tends to be more elastic in the…

Supply tends to be more elastic in the short-run, and less elastic in the long-run. Group of answer choices A. True B. False

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter5: Elastic And Its Application

Section: Chapter Questions

Problem 3PA: Suppose the price elasticity of demand for heating oil is 02. in the short run and 0.7 in the long...

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21. Supply tends to be more elastic in the short-run, and less elastic in the long-run.

Group of answer choices

A. True

B. False

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