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What is the difference in elasticity of supply in the short run versus the long run?

What is the difference in elasticity of supply in the short run versus the long run?
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4 votes
What is the difference in elasticity of supply in the short run versus the long run?

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User Thakis
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1 Answer

4 votes
Supply is more price elastic in the long run. Supply is more price inelastic in the short run because it's simply not as great.
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User Lirui
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