In which of the following time periods can sellers NOT respond to changes in price by increasing quantity supplied?
A)The long run
B)The short run
C)The market period

Question

Quizplus · Accepted Answer

In the market period, sellers cannot significantly increase the quantity supplied in response to changes in price because they do not have enough time to adjust production or resources. In contrast, in both the short run and the long run, sellers can respond to changes in price by adjusting the quantity supplied, although the extent of their responsiveness may differ depending on the time horizon.

In Which of the Following Time Periods Can Sellers NOT