The price elasticity of supply is greater when the length of time under consideration is longer because

Question:

The price elasticity of supply is greater when the length of time under consideration is longer because over time producers have more options for adjusting to the change in price.

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

Step by Step Answer:

Related Book For book-img-for-question

Principles Of Microeconomics

ISBN: 9781843317708

1st Edition

Authors: Libby Rittenberg, Timothy Tregarthen

See More Books

Question Posted: Nov 06, 2024 08:01 AM

See More Questions

Use a software package such as Matlab or Mathematica to program the example described in section 7.3. (a) Assume the environmental regulator ignores the impact on the labor market and sets an...
What is operational coding?
Sir Corporation is a 90 percent-owned subsidiary of Pit Corporation, acquired several years ago at book value equal to fair value. For 2011 and 2012, Pit and Sir report the following: The only...
The price elasticity of supply is greater when the length of time under consideration is longer because over time producers have more options for adjusting to the change in price.
In 2014, Carver Electronics Co. began selling a new computer that carried a two-year warranty against defects. Based on the manufacturer's recommendations, Carver projects estimated warranty costs...
Choosingwhich Computer Software to Use In this activity, you will download a spreadsheet and open it in Excel (most of you should have it installed on your computer already) or Google Sheets (free in...
Supply is price inelastic if the price elasticity of supply is less than 1; it is unit price elastic if the price elasticity of supply is equal to 1; and it is price elastic if the price elasticity...
When applied to labor supply, the price elasticity of supply is usually positive but can be negative. If higher wages induce people to work more, the labor supply curve is upward sloping and the...
(a) Which anatomical characteristic ensures that the flow of lymph through a lymph node is slow? (b) Why is this desirable?
Lesson D-Types of Criminal Offense Your course reading states the following: "There is no easy formula for determining which crimes are summary or not." Explain why there is so much grey area here...
Sandy and John Ferguson got married eight years ago and have a seven-year-old daughter, Samantha. In 2022, Sandy worked as a computer technician at a local university earning a salary of $153,100,...
Ray Company provided the following excerpts from its Production Department's flexible budget performance report. Required: Complete the Production Department's Flexible Budget Performance Report....
P17-7A The following are the financial statements of Nosker Company. NOSKER COMPANY Comparative Balance Sheets December 31 Assets Cash Accounts receivable Inventory Equipment Accumulated...
Figure 5.2, Figure 5.5 and Figure 5.6 Since the SUTA rates changes are made at the end of each year, the available 2022 rates were used for FUTA and SUTA. Note: For this textbook edition the rate...
A 60-MHz plane wave traveling in the x-direction in dry soil with relative permittivity r = 4 has an electric field polarized along the z-direction. Assuming dry soil to be approximately...
Rewrite the code of Figure 7.3 in Ada, Java, or C#. Figure 7.3: template class queue { item items [max_items]; int next_free, next_full, num_items; public: queue () : next_free (0), next_full(0),...

The price elasticity of supply is greater when the length of time under consideration is longer because

Question:

Step by Step Answer:

Principles Of Microeconomics

Students also viewed these Business questions