The supply of lettuce in the short run will be _______ than supply in the long run and _______ than supply today.

Question

Quizplus · Accepted Answer

In the short run, producers have less time to adjust to changes in demand, making the supply of lettuce less elastic. Over time, as producers adjust, supply becomes more elastic. The comparison to "supply today" suggests a future perspective, implying that today's supply is less elastic than it will be in the long run.

The Supply of Lettuce in the Short Run Will Be