All Things Equal, the Price Elasticity of Supply

question 129

Multiple Choice

All things equal, the price elasticity of supply

• A) will be greater in the short run than in the long run.
• B) will be greater in the long run than in the short run.
• C) is the same for the short run and the long run.
• D) approaches zero in the long run.

---

Definitions:

Mandatory Injunction

A court order requiring an individual or entity to perform a specific action, often to correct a wrong or prevent further harm.

Violate Contractual Term

The act of failing to perform obligations or duties as outlined in a contract.

Tender of Performance

An offer by one party to perform their part of the contract, demonstrating readiness and willingness to fulfill the contract terms.

Contractual Obligation

A duty or commitment one party agrees to perform as outlined in a contract.