Why does supply tend to be more elastic in the long run than in the short run?

Question:

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Exploring Macroeconomics

ISBN: 9781111970314

5th Edition

Authors: Robert L. Sexton

See More Books

Question Posted: Oct 29, 2024 03:01 AM

See More Questions

Why does supply tend to be more elastic in the long run than in the short run?
1. In the short run, a tool manufacturer has a fixed amount of capital. Labor is a variable input. The cost and output structure that the firm faces is depicted in the following table. Labor Total...
Exercise one. Kindly answer with clear explanations. 1. Compared with a perfectively competitive market a monopoly is inefficient because a. it raises the market price above marginal cost and...
a. An autoregressive model is given by: Yt = 20.58 + 0.046 yt-1 + 0.01Yt-2 where Y, = sales of a product. Explain the meaning of the terms in this autoregressive model. b. Write the expressions for...
What technological or economic factors influenced the layout and design of the space? Who was the space intended for in terms of socioeconomic status? How do you know? What forms of power are...
The simple band brake is constructed so that the ends of the friction strap are connected to the pin at A and the lever arm at B. If the wheel is subjected to a torque M, determine the smallest force...
Why does supply tend to be more elastic in the long run than in the short run?
Milner Manufacturing uses a job order cost accounting system. On May 1, the company has a balance in Work in Process Inventory of $3,200 and two jobs in process: Job No. 429 $2,000, and Job No. 430...
Question 16 (6 points) An average of 40 customers per hour arrives at a bank branch office (Poisson arrival) and wait in a single line to be served by the first available teller. The average time for...
What does it mean to say the elasticity of supply for one good is greater than that for another?
How do the relative elasticities of supply and demand determine who bears the greater burden of a tax?
Find the probability that a standard normal random variable will be greater in value than -2.33.
Morrisey & Brown, Ld, of Sydney is 'a merchandising company that is the sole distributor of a product that is increasing in popularity among Australian consumers. The company's Income statements for...
Required Information C4-2 (Algo) From Recording Transactions (Including Adjusting Journal Entries) to Preparing Financial Statements and Closing Journal Entries (Chapters 2, 3, and 4) [LO 2-3, LO...
Over the past 4 years, Annabelle, age 28, has contributed a total of $20,000 to a Roth IRA. The current balance is $25,000. She was tired of renting, so this year she took a distribution of $15,000...
Not sure what I'm doing wrong here. Also, theres no drop down option for Debt issue costs. Cupola Fan Corporation issued 12\%, \$430,000, 10-year bonds for \$412,000 on June 30, 2024. - Debt issue...
Composite Printing Company currently leases its only copy machine for $1,300 a month. The company is considering replacing this leasing agreement with a new contract that is entirely commission...
Match the differential equation with its direction field (labeled IIV). Give reasons for your answer. 3. y' =y - 1 4. y'-y-x 5. y' = y - x 6. y' = y' - x' -21 1/-- -2/ AA.VILI -11111+2 -2 - III IV y....
It is possible to investigate the thermo chemical properties of hydrocarbons with molecular modeling methods. (a) Use electronic structure software to predict cHo values for the alkanes methane...

Why does supply tend to be more elastic in the long run than in the short run?

Question:

Step by Step Answer:

Exploring Macroeconomics

Students also viewed these Business questions