Why is long-run price elasticity of supply greater than short-run price elasticity of supply?

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Principles of Economics

ISBN: 978-1285064437

7th edition

Authors: Fred M. Gottheil

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Question Posted: Apr 21, 2015 09:30 AM

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Why is long-run price elasticity of supply greater than short-run price elasticity of supply?

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The answer is that producers need time to adjust the quantity they supply to pr...View the full answer

Principles of Economics

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