In the Long Run, Supply Curves Tend to Be Relatively

Multiple Choice

In the long run, supply curves tend to be relatively elastic. This is because

A) demand is also elastic in the long run
B) in the short run, fixed costs are fixed
C) in the long run, suppliers can adjust the quantities of all resources used in production
D) in the long run, suppliers can eliminate inefficient resources
E) in the long run, suppliers will enter and exit other industries