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A Supply Curve in the Long Run Is Likely to Be

Question 351

Multiple Choice

A supply curve in the long run is likely to be _____ than the supply curve in the short run because the price elasticity of supply in the long run is more _____.


A) steeper; inelastic
B) steeper; elastic
C) flatter; inelastic
D) flatter; elastic

Correct Answer:

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