Question

Write True or False with a reason.
In the long period, elasticity of supply tends to be lower than in the short period.

• A. True
• B. False

Answer 1

The correct option is B False

False. Longer the time period, greater will be the elasticity of supply. Because, over a long period of time, more and more factors are easily available and their input can be changed to increase (or decrease) output of the commodity.