question archive Price elasticity of supply is calculated by dividing the percentage change in _____ by the percentage change in _____
Price elasticity of supply is calculated by dividing the percentage change in _____ by the percentage change in _____
Subject:EconomicsPrice:2.88 Bought3
Price elasticity of supply is calculated by dividing the percentage change in _____ by the percentage change in _____.
Usually price elasticities of supply are _____ - higher prices are _____ quantities supplied.
Long-run curves are _____ elastic than short-run curves because the _____ the time allowed, the more resources can flow into or out of an industry when price changes.
Purchase A New Answer
Custom new solution created by our subject matter experts
GET A QUOTE
Answer Preview
Price elasticity of supply is calculated by dividing the percentage change in quantity supplied by the percentage change in prices.
Usually price elasticities of supply are positive - higher prices are required to increase quantities supplied.
Long-run curves are more elastic than short-run curves because the longer the time allowed, the more resources can flow into or out of an industry when the price changes.
