Economics · Microeconomics
When producers have a long period of time to adjust their production capacity and inputs in response to a price change, the price elasticity of supply becomes:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1More Elastic✓
- 2More Inelastic
- 3Perfectly Inelastic
- 4Completely Static
Correct answer
More Elastic
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