The ability of firms to enter and exit a market over time means that,in the long run.a.the demand curve is more elastic.b.the demand curve is less elasticc.the supply curve is more elasticd.the supply curve is less elastic

The ability of firms to enter and exit a market over time means that,in the long run.a.the demand curve is more elastic.b.the demand curve is less elasticc.the supply curve is more elasticd.the supply curve is less elastic

Principles of Microeconomics (MindTap Course List)

8th Edition

ISBN:9781305971493

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter5: Elastic And Its Application

Section: Chapter Questions

Problem 4CQQ

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Question

The ability of firms to enter and exit a market over time means that,in the long run.
a.the demand curve is more elastic.
b.the demand curve is less elastic
c.the supply curve is more elastic
d.the supply curve is less elastic

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