Use the figure below to answer the following question. A graph depicts variation of price on vertical axis with quantity on horizontal axis.Three increasing curves labeled S1, S2, and S3 intersects two decreasing curves labeled D1 and D2. S1 and S2 (to the left of S1) intersects D1, D2, and S3. S3 (to the left of S2) is a straight line perpendicular to the horizontal axis and intersects all four curves. 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 Multiple Choice supply is relatively more elastic the greater the amount of time producers have to adjust to a change in demand. supply is relatively more inelastic the greater the amount of time producers have to adjust to a change in demand. the amount of time producers have to adjust to a change in demand is not a determinant of the elasticity of supply. short-run adjustments are more economically efficient than are long-run adjustments