⟩ Explain why for many goods, the long-run price elasticity of supply is larger than the short-run elasticity?
Time period play important role so that people respond to prices change and demand tend to be more inelastic in long run than short run.
Question and Answer:
Home Economics
- Share
Popular Answers:
* There is no answer to the above question yet.
More Questions for you:
If you have seven white socks and nine black socks in a drawer, how many do you have to pull out blindly in order to ensure that you have a matching pair?
Say you are driving on a one-mile track. You do one lap at 30 miles an hour. How fast do you have to go to average 60 miles an hour?
Give me a good example of a recent win-win situation you successfully negotiated?
Tell me what you can do to add value to our organization?
What is your major achievement in your career?
Tell me a good joke that is neither sexist nor racist.
Tell me what do you feel motivates you?
How you persuade others to see your point of view?
If I were to fill this room with pennies, how many pennies would fit in?
Which high stress situation you found in yourself and how did you handle it?
