The short- run supply for housing is quite while the long- run supply for housing is quite
.
A) inelastic; elastic
B) elastic; inelastic
C) flat; steep
D) inelastic; inelastic
E) elastic; elastic

Question

Quizplus · Accepted Answer

In the short run, it may be difficult to quickly increase the supply of housing due to factors such as limited construction resources and time. Thus, the short-run supply curve for housing is inelastic. However, in the long run, producers have more time to adjust and can bring more housing units onto the market to meet demand, making the long-run supply curve for housing more elastic.

The Short- Run Supply for Housing Is Quite While the Long-