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What commodities have the most inelastic supply?
In the short run, most commodities have inelastic supply curves. In the long run, with increased investment, supply could become more elastic. I would hazard a guess that the radio - active isotopes used for nuclear fuel such as Uranium-235 have the most inelastic supply.
Is the housing industry elastic or inelastic?
It is inelastic due to houses taking a long time to build so there will be a short supply of housing. there are also no alternatives to housing. There is but that is if you want to become homeless.
Does apple production has elastic supply?
Apple production generally has inelastic supply in the short term due to the time required for trees to grow and produce fruit. Factors like weather conditions and seasonal cycles also affect immediate supply responses. However, in the long term, supply can become more elastic as growers adjust planting decisions based on market prices and invest in new technologies. Overall, while short-term supply is relatively inelastic, it may become more elastic over time.
What characterizes an inelastic supply curve?
If production adjustments takes long.
What good has inelastic supply and elastic demand a specific example of a good please?
Would someone answer my question please I need it due Monday :S Inelastic supply ensures a predictable level of supply and also a static cost price. Elastic demand would mean that you need to careful in planning your supply pipeline. if you order too much you may end up selling at or below cost or at lower than budgeted margins. Generally in a globalised open market these 2 conditions cannot exist for long. They are counter intuitive
What commodities have the most inelastic supply?
In the short run, most commodities have inelastic supply curves. In the long run, with increased investment, supply could become more elastic. I would hazard a guess that the radio - active isotopes used for nuclear fuel such as Uranium-235 have the most inelastic supply.
What commodities have the most inelastic?
In the short run, most commodities have inelastic supply curves. In the long run, with increased investment, supply could become more elastic. I would hazard a guess that the radio - active isotopes used for nuclear fuel such as Uranium-235 have the most inelastic supply.
Is the housing industry elastic or inelastic?
It is inelastic due to houses taking a long time to build so there will be a short supply of housing. there are also no alternatives to housing. There is but that is if you want to become homeless.
Does apple production has elastic supply?
Apple production generally has inelastic supply in the short term due to the time required for trees to grow and produce fruit. Factors like weather conditions and seasonal cycles also affect immediate supply responses. However, in the long term, supply can become more elastic as growers adjust planting decisions based on market prices and invest in new technologies. Overall, while short-term supply is relatively inelastic, it may become more elastic over time.
What characterizes an inelastic supply curve?
If production adjustments takes long.
What good has inelastic supply and elastic demand a specific example of a good please?
Would someone answer my question please I need it due Monday :S Inelastic supply ensures a predictable level of supply and also a static cost price. Elastic demand would mean that you need to careful in planning your supply pipeline. if you order too much you may end up selling at or below cost or at lower than budgeted margins. Generally in a globalised open market these 2 conditions cannot exist for long. They are counter intuitive
Why would the demand for natural gas be more inelastic in the short run than in the long run?
Natural gas is inelastic in the short term because the amount of natural gas available does not tend to increase with demand. In the long run prices can become more elastic due to the ability to adjust your overall consumption of natural gas to match the supply.
Is supply more elastic in the short run than in the long run?
Most of them are more elastic in the long run,because all factors of production are variable,not fixed.
What is the difference between aggregate supply in the short and long run?
In the long run (ceteris paribus), aggregate supply is perfectly inelastic, represented by a vertical line. No matter the inflation or deflation, there will be constant real product. However, in the short run, aggregate supply is much more elastic (and, according to Keynes, can become perfectly elastic (horizontal) if the economy gets into a rut). The real GDP will change because of the price level. But by definition, in the long run real variables are resistant to nominal changes, so real GDP will not be influenced by price level while in the short run it is not constant.
Is The supply curve more or less elastic in the long run than the short run?
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What are the key differences between the long run supply curve and the short run supply curve in economics?
The key difference between the long run supply curve and the short run supply curve in economics is that the long run supply curve is more elastic and flexible, as firms can adjust their production levels and resources in the long run. In contrast, the short run supply curve is less elastic and more rigid, as firms have limited ability to change their production capacity in the short term.
Why did OPEC fail to keep the price of oil high?
This episode shows how supply and demand can behave differently in theshort run and in the long run. In the short run, both the supply and demand for oilare relatively inelastic. Supply is inelastic because the quantity of known oil reservesand the capacity for oil extraction cannot be changed quickly. Demand is inelasticbecause buying habits do not respond immediately to changes in price.
