The supply of meat is more elastic in the long run than in the short run. Ceteris paribus, as time goes by, the burden of a tax on cattle will increasingly be shouldered by the

Question

Quizplus · Accepted Answer

In the long run, producers (ranchers) can adjust their production more easily, making supply more elastic. As supply becomes more elastic, consumers bear more of the tax burden.

The Supply of Meat Is More Elastic in the Long