In the Short Run, the Price Elasticity of Supply for Foods

question 91

Multiple Choice

In the short run, the price elasticity of supply for foods low in carbohydrates is lower than it will be in the long run because:

• A) in the short run, inputs are more available to produce these foods than in the long run.
• B) in the short run, food producers do not have much time to respond to changes in demand.
• C) in the short run, prices tend to stay constant.
• D) in the long run, the price elasticity of supply tends to be perfectly inelastic.