Price Elasticity of Supply
AP Microeconomics · Flashcards · Recall
AP MICROECONOMICS · FLASHCARDS
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QUESTION
State the term for
E
s
=
1
E_s = 1
E
s
=
1
in price elasticity of supply.
QUESTION
Choose the supply elasticity: immediate market period.
QUESTION
Choose the supply elasticity: long run.
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ANSWER
Elastic. Sufficient time enables full production capacity adjustments.
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