It a product requires a unique input, price elasticity of supply will berelative to the price elasticity of supply of a product that does not require a unique input. Icss clastic in the short run, but morc clastic in the long run more elastic in both the short run and in the long run less elastic In both the short run and In the long run more elastic in the short runand less elastic in the long run

It a product requires a unique input, price elasticity of supply will berelative to the price elasticity of supply of a product that does not require a unique input. Icss clastic in the short run, but morc clastic in the long run more elastic in both the short run and in the long run less elastic In both the short run and In the long run more elastic in the short runand less elastic in the long run

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter5: Elasticity

Section: Chapter Questions

Problem 2SCQ: From the data in Table 5.6 about supply of alarm clocks, calculate the price elasticity of supply...

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