Question

Are market supply curve typically more elastic in short run or long run

Answer 1

Answer:

sorry it is not in my mind

Answer 2

In the long term, market supply curves are usually more stable than in the short run.

Explanation:

• In a competitive market, the supply curve becomes ideally elastic in the long run, as entrance or exit happens before demand reaches the minimum of average total expense. Both companies have the same constraints on prices.
• For a constant cost market, thus, the long-run supply curve LSC is a horizontal straight line (i.e. completely elastic) at the price OP, which is equal to the average minimum cost. It implies the price will stay the same however the product is delivered.

Learn more about long run

Relationship between short run curve and long run curve?

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salient features of long run average cost curve

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