The supply of lettuce in the short run will be ________ than the supply in the long run and ________ than the supply today.
A) more elastic; less elastic
B) more elastic; more elastic
C) less elastic; more elastic
D) less elastic; less elastic

Question

Quizplus · Accepted Answer

In the short run, the supply of lettuce is less elastic because producers cannot quickly change production levels. In the long run, supply becomes more elastic as producers have more time to adjust their production processes.

The Supply of Lettuce in the Short Run Will Be