Explain the behaviour of firm's supply in the context of time horizon. Or How does time period affect the elasticity of supply of a commodity?

Explain the behaviour of firm's supply in the context of time horizon.

1.	Explain the behaviour of firm's supply in the context of time horizon. Or How does time period affect the elasticity of supply of a commodity?
Answer» <html><body><p></p>Solution :Time <a href="https://interviewquestions.tuteehub.com/tag/period-1151023" style="font-weight:bold;" target="_blank" title="Click to know more about PERIOD">PERIOD</a> affects the price elasticity of <a href="https://interviewquestions.tuteehub.com/tag/supply-1235254" style="font-weight:bold;" target="_blank" title="Click to know more about SUPPLY">SUPPLY</a>. <a href="https://interviewquestions.tuteehub.com/tag/longer-1078655" style="font-weight:bold;" target="_blank" title="Click to know more about LONGER">LONGER</a> the time period, greater is the elasticity of supply , shorter the time period, lesser is the elasticity of supply. <br/> <a href="https://interviewquestions.tuteehub.com/tag/effect-966056" style="font-weight:bold;" target="_blank" title="Click to know more about EFFECT">EFFECT</a> of time period differs between <br/> <img src="https://d10lpgp6xz60nq.cloudfront.net/physics_images/MIC_ECO_XI_U03_C09_E01_037_S01.png" width="80%"/></body></html>