中等ECON-ELAS-007
The price elasticity of supply of a product is likely to be more elastic in the long run because:
A. Firms have more time to adjust production✓ 答案
B. Firms have less time to adjust production
C. The product is perishable
D. There are no close substitutes in production
解說
In the long run, firms can change all inputs, expand capacity, or enter/leave the market, making supply more responsive to price changes. B describes the short run, leading to inelastic supply. Perishability and lack of substitutes also reduce elasticity.