Question

Given the graphs above, which of the following is likely true?

(1 point)
Over the short run, the elasticity of quantity supplied by firms tends to be like both graphs.
Over the short run, the elasticity of quantity supplied by firms tends to be more like the graph on the left.
Over the short run, the elasticity of quantity supplied by firms tends to be more like the graph on the right.
Over the long run, the elasticity of quantity supplied by firms tends to be more like the graph on the left.

Answer 1

[AI-generated answer — Bot GPT 3.5]

Based on the given information, it is likely true that over the short run, the elasticity of quantity supplied by firms tends to be more like the graph on the left.