Use the figure below to answer the following question.
The diagram concerns supply adjustments to an increase in demand (D1 to D2) in the immediate period, the short run, and the long run. On the basis of this illustration, we can conclude that
A. the amount of time producers have to adjust to a change in demand is not a determinant of the elasticity of supply.
B. supply is relatively more inelastic the greater the amount of time producers have to adjust to a change in demand.
C. short-run adjustments are more economically efficient than are long-run adjustments.
D. supply is relatively more elastic the greater the amount of time producers have to adjust to a change in demand.
Answer: D
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