The long run supply curve to a market depends on the characteristics of the firms that currently operate in it.Thus, the latter will be more elastic than the short-run supply curve.

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The long-run supply curve is more elastic than the short-run supply curve because in the long run, firms have the flexibility to adjust their production levels and enter or exit the market. This means that the long-run supply curve takes into account the potential entry or exit of firms, leading to a more elastic response to changes in market prices.

The Long Run Supply Curve to a Market Depends on the Characteristics