Supply curves tend to be
Multiple Choice
a. less elastic in the long run because there is time for firms to enter or leave an industry.
b. perfectly inelastic in the long run because the law of scarcity imposes absolute limits on production.
c. perfectly elastic in the long run because consumer demand will have sufficient time to adjust fully to changes in supply.
d. more elastic in the long run because there is time for firms to enter or leave the industry.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Supply curves tend to be Multiple Choice a. less elastic in the long run because there is time for firms to enter or leave an industry. b. ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
The lock box department at Bank 21 handles the processing of monthly loan payments to the bank, monthly and quarterly premium payments to a local insurance company, and bill payments for 85 of the bank's largest commercial customers.
Answers (1)
Budgeting is the common accounting tool companies use for planning and controlling. Budgets a. provide a measure of planned financial results. b. are prepared independent of the company's long-term strategies. c.
Answers (1)
How do people determine what country has the best economy
Answers (1)
Assuming that increasing CO2 concentrations are directly linked to increased surface temperatures, which scenario should result in a reduction of temperatures to below their 1960-1990 averages by 2040? A. moderate control B. aggressive control C.
Answers (1)
Which of the following modes of transportation would probably be the most energy efficient for traveling from New York to Los Angeles? a. flying by commercial airline b. driving your own automobile c. taking a bus d. taking Amtrak
Answers (1)
New Questions in Business
Technician a says that a brake spoon is used to adjust brake shoes when the drum is installed. technician b says that a brake hold-down spring tool is used to remove and install hold-down springs. who is correct?
Answers (1)
Last week john got a call from his contact eric at alpine telecomm in switzerland, one of his company's largest international customers.
Answers (1)
John works for Kinjo's Printing Services during the day and Joe's Diner at night. This is a conflict of interest. a. True b. False
Answers (1)
The simple interest 500,000 amount to 630,000. what is the percentage rate?
Answers (1)
East Corp., a calendar-year company, had sufficient retained earnings in 20X3 as a basis for dividends, but was temporarily short of cash.
Answers (1)