subject
Business, 11.02.2020 20:54 amazinga

Because it takes many years before newly planted orange trees bear fruit, the supply curve in the short run is almost vertical. In the long run, farmers can decide whether to plant oranges on their land, to plant something else, or to sell their land altogether. Therefore, the long-run supply of oranges is much more price sensitive than the short-run supply of oranges.

Assuming that the long-run demand for oranges is the same as the short-run demand, you would expect a binding price ceiling to result in a (shortage or surplus) that is (smaller or larger) in the long run than in the short run.

ansver
Answers: 3

Other questions on the subject: Business

image
Business, 22.06.2019 17:10, lerasteidl
To : of $25 up to 35 2 35 up to 45 5 45 up to 55 7 55 up to 65 20 65 up to 75 16 is$25 up to $35 ?
Answers: 1
image
Business, 22.06.2019 18:30, maskoffvon
What is the relationship between credit and debt?
Answers: 1
image
Business, 22.06.2019 19:20, needhelp243435
This problem has been solved! see the answerwhich of the following statements is correct? the consumer price index is a measure of the overall level of prices, whereas the gdp deflator is not a measure of the overall level of prices. if, in the year 2011, the consumer price index has a value of 123.50, then the inflation rate for 2011 must be 23.50 percent. compared to the gdp deflator, the consumer price index is the more common gauge of inflation. the consumer price index and the gdp deflator reflect the goods and services bought by consumers equally well.
Answers: 2
image
Business, 22.06.2019 20:00, mackle34
Qwest airlines has implemented a program to recycle all plastic drink cups used on their aircraft. their goal is to generate $7 million by the end of the recycle program's five-year life. each recycled cup can be sold for $0.005 (1/2 cent). a. how many cups must be recycled annually to meet this goal? assume uniform annual plastic cup usage and a 0% interest rate. b. repeat part (a) when the annual interest rate is 12%. c. why is the answer to part (b) less than the answer to part (a)?
Answers: 1
You know the right answer?
Because it takes many years before newly planted orange trees bear fruit, the supply curve in the sh...

Questions in other subjects: