Question
Choose the statement that correctly describes elasticity of supply for firms over the short run or long run.
Graph on the Left. Graph of a line, on the coordinate plane. The X axis is labeled, Quantity Supplied. The Y axis is labeled, Price. The line, labeled S, rises from left to right with a steep slope. Graph on the Right. Graph of a line, on the coordinate plane. The X axis is labeled, Quantity Supplied. The Y axis is labeled, Price. The line, labeled S, rises from left to right with a gentle slope.
Graph on the Left. Graph of a line, on the coordinate plane. The X axis is labeled, Quantity Supplied. The Y axis is labeled, Price. The line, labeled S, rises from left to right with a steep slope. Graph on the Right. Graph of a line, on the coordinate plane. The X axis is labeled, Quantity Supplied. The Y axis is labeled, Price. The line, labeled S, rises from left to right with a gentle slope.
Answers
Answered by
GPT 3.5
The statement that correctly describes elasticity of supply for firms over the short run or long run is: Graph on the Left. Graph of a line, on the coordinate plane. The X axis is labeled, Quantity Supplied. The Y axis is labeled, Price. The line, labeled S, rises from left to right with a steep slope.
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