The short-run elasticity of supply curve is steep becauseO A. diminishing marginal returns restrict output in the short run.OB. production facilities have a fixed capacity in the short run.OC. new firms enter the market with new production facilities.OD. of both A and B.SURUO E. All of the above.

Supply Curve:The supply curve is the relationship between the quantity supply and the cost of…

K The short-run elasticity of supply curve is steep because OA. diminishing marginal returns restrict output in the short run. B. production facilities have a fixed capacity in the short run. OC. new firms enter the market with new production facilities. OD. of both A and B. OE. All of the above..

K The short-run elasticity of supply curve is steep because OA. diminishing marginal returns restrict output in the short run. B. production facilities have a fixed capacity in the short run. OC. new firms enter the market with new production facilities. OD. of both A and B. OE. All of the above..

Microeconomics: Private and Public Choice (MindTap Course List)

16th Edition

ISBN:9781305506893

Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Chapter9: Price Takers And The Competitive Process

Section: Chapter Questions

Problem 2CQ

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Question

The short-run elasticity of supply curve is steep because
O A. diminishing marginal returns restrict output in the short run.
OB. production facilities have a fixed capacity in the short run.
OC. new firms enter the market with new production facilities.
OD. of both A and B.
SURU
O E. All of the above.

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