The short-run industry supply curve is more elastic than is the long-run industry supply curve.

Name: The short-run industry supply curve is more elastic than is the long-run industry supply curve.
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In the long run, firms have more flexibility to adjust all of their inputs, adopt new technologies, and enter or exit the industry, making the long-run industry supply curve more elastic than the short-run supply curve, where some inputs are fixed.

The Short-Run Industry Supply Curve Is More Elastic Than Is