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Akhmad Feruz Gulomov
on Dec 11, 2024

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As the period for firms to expand output is lengthened, the elasticity of the market supply curve will

A) approach zero.
B) increase.
C) decrease.
D) remain the same since time does not affect the elasticity of market supply.

Elasticity of Market Supply

The degree to which the quantity supplied of a good changes in response to a change in price.

Output Expansion

The increase in the production of goods and services in an economy or by a firm, often as a result of increased demand or improved production capabilities.

Period Lengthened

The extension of time allocated for a particular activity, phase, or process.

  • Identify the constituents that mold the long-run supply curve's structure within diverse sectors.
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Emmanuel Baffour AwuahDec 17, 2024
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