The price elasticity of supply is more likely to be Select one: High if it is calculated over a short period of time High if it is difficult to switch resources in production Low if it is difficult to switch resources in production Low if it is calculated over a long period of time

The price elasticity of supply is more likely to be Select one: High if it is calculated over a short period of time High if it is difficult to switch resources in production Low if it is difficult to switch resources in production Low if it is calculated over a long period of time

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter3: Demand Analysis

Section: Chapter Questions

Problem 2E: The price elasticity of demand for personal computers is estimated to be 2.2. If the price of...

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Question

The price elasticity of supply is more likely
to be
Select one:
High if it is calculated over a short period
of time
High if it is difficult to switch resources in
production
Low if it is difficult to switch resources in
production
Low if it is calculated over a long period
of time

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