The longer the time period considered, the elasticity of supply tends to:
a. decrease
b. remain constant.
c. increase.
d. converge to zero.
c
Economics
You might also like to view...
When Airbnb customers in Malibu start paying hotel taxes, this will have the potential to ________ the equilibrium price in this market and, therefore, ________ efficiency
A) raise; increase B) raise; decrease C) lower; decrease D) lower; increase
Economics
Which of the following is NOT true about the demand curve faced by a monopolist?
A) The demand curve is downward sloping. B) The firm's demand curve is the same as the market demand curve. C) The marginal revenue curve is below the market demand curve. D) The demand curve is perfectly elastic.
Economics