Recall the Application About the Short-Run and Long-Run Elasticity of Supply

question 48

Multiple Choice

Recall the Application about the short-run and long-run elasticity of supply of coffee to answer the following question(s) .
-Recall the Application.If the price of coffee beans decreases by 12 percent and stays there for a year,the quantity of coffee supplied will ________ by a relatively ________ amount.

• A) increase; large
• B) increase; small
• C) decrease; large
• D) decrease; small

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