Because Suppliers Can More Readily Adjust Their Output in the Long

Multiple Choice

Because suppliers can more readily adjust their output in the long run than in the short run, we expect price elasticity of supply to be

A) negative in the long run and positive in the short run
B) positive in the long run and negative in the short run
C) greater than one in the short run and less than one in the long run
D) higher in the long run than in the short run
E) higher in the short run than in the long run