All things equal, the price elasticity of supply
A) will be greater in the short run than in the long run.
B) will be greater in the long run than in the short run.
C) is the same for the short run and the long run.
D) approaches zero in the long run.

Question

Quizplus · Accepted Answer

In the long run, producers have more time to adjust their production processes, resources, and capacities, making supply more responsive to price changes, hence greater elasticity.

All Things Equal, the Price Elasticity of Supply