Many manufactured goods have an ________ supply if production plans have only a short period to change and, as time passes and all production adjustments are made, the supply of the good ________ from the initial response.

Question

Quizplus · Accepted Answer

In the short term, the supply of manufactured goods is often inelastic because production cannot be quickly adjusted. Over time, as production adjustments are made, the supply can increase.

Many Manufactured Goods Have an ________ Supply If Production Plans