In which situation would you expect supply to be less elastic?
A) when looking at the long run
B) when looking at the global supply
C) when there are constant unit costs as the quantity produced increases
D) when looking at local supply

Question

Quizplus · Accepted Answer

Global supply is generally less elastic because it is harder to increase production on a global scale due to factors like resource limitations and international regulations.

In Which Situation Would You Expect Supply to Be Less