Economy, asked by nehadey052, 8 months ago

can the time element effect the elasticity of supply?

Answers

Answered by itzadi040

Explanation:

Time also exerts considerable influence on the elasticity of supply. Supply is moreelastic in the long run than in the short run. The reason is easy to find out. The longer thetime period the easier it is to shift resources among products, following a change in their relative prices.

Answered by sureshiyshsri

Answer:

Time also exerts considerable influence on the elasticity of supply. Supply is more elastic in the long run than in the short run. The reason is easy to find out. The longer the time period the easier it is to shift resources among products, following a change in their relative prices.

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