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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.
The long-run supply of apples is more elastic than the short-run supply of apples?
Yes, bacause on the short run you are not able to harvest more apples than you have threes. On the long term you are able to adjust the number of threes
Is a firm's demand for labor curve is more elastic in the short run than in the long run?
No. It's more elastic in the long run than the short run.
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.
Is The supply curve more or less elastic in the long run than the short run?
more
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.
The long-run supply of apples is more elastic than the short-run supply of apples?
Yes, bacause on the short run you are not able to harvest more apples than you have threes. On the long term you are able to adjust the number of threes
Is a firm's demand for labor curve is more elastic in the short run than in the long run?
No. It's more elastic in the long run than the short run.
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.
Does supply curves tend to be more elastic in the long run or inelastic?
yes
Does elastic have a short e sound?
No. The E can have a short I, or more rarely a long E sound.
Which firm is more likely to have an elastic supply?
A firm making underwear will need a supply of elastic.
Will the supply of a good be more elastic if the price of the good increases?
Yes, the supply of a good will be more elastic if the price of the good increases.
Why is the long-run supply curve of rent controlled apartments typically more elastic than the short-run supply curve?
The long-run supply curve of rent-controlled apartments is typically more elastic than the short-run supply curve because, over time, landlords can adjust their supply more effectively in response to changes in market conditions. In the short run, landlords face immediate constraints such as existing lease agreements and the inability to quickly change their properties. However, in the long run, they can make decisions such as converting units to other uses, investing in maintenance, or selling properties, allowing for greater flexibility and responsiveness to market signals. Consequently, the long-run supply of rent-controlled apartments is more sensitive to changes in demand and other economic factors.
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 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.
