Why does the short-run market supply curve for a product slope upward to the right? Why does
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Why does the short-run market supply curve for a product slope upward to the right? Why does the long-run market supply curve generally slope upward to the right? Why is the long-run market supply curve generally more elastic than the short-run supply curve?
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The shortrun and longrun market supply curves exhibit different slopes and elasticities due to the differing time frames and factors that can be adjus...View the full answer
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Related Book For 
Economics Private And Public Choice
ISBN: 9780357133996
17th Edition
Authors: James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
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