In the long run,the price elasticity of supply is limited because of the principle of diminishing returns.

Name: In the long run,the price elasticity of supply is limited because of the principle of diminishing returns.
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In the long run, the price elasticity of supply is generally more elastic because firms have more time to adjust their production and resources, unlike in the short run where the principle of diminishing returns can limit elasticity due to fixed inputs.

In the Long Run,the Price Elasticity of Supply Is Limited