To understand the shape of a supply curve when producers have limited time to adjust to price changes, we can analyze the characteristics of each option:

1. **Horizontal**: This indicates perfectly elastic supply, meaning producers will supply any quantity at a particular price. This scenario is unlikely when producers cannot adjust quickly.

2. **Steep**: A steep supply curve suggests that supply is inelastic, meaning producers cannot significantly increase output with price changes. This situation is common when they have little time to respond.

3. **Flat**: A flat supply curve indicates high elasticity, where producers can easily increase supply with minor price changes. Again, this is not applicable when they have limited time.

4. **Vertical**: A vertical supply curve means the supply is perfectly inelastic, indicating that the quantity supplied does not change regardless of price changes. This is not typical for short-term adjustments.

### Conclusion:
When producers have little time to adjust to price changes, the shape of the supply curve is typically **B. Steep**. This reflects their inability to quickly alter production levels.

Question

To understand the shape of a supply curve when producers have limited time to adjust to price changes, we can analyze the characteristics of each option:

1. **Horizontal**: This indicates perfectly elastic supply, meaning producers will supply any quantity at a particular price. This scenario is unlikely when producers cannot adjust quickly.

2. **Steep**: A steep supply curve suggests that supply is inelastic, meaning producers cannot significantly increase output with price changes. This situation is common when they have little time to respond.

3. **Flat**: A flat supply curve indicates high elasticity, where producers can easily increase supply with minor price changes. Again, this is not applicable when they have limited time.

4. **Vertical**: A vertical supply curve means the supply is perfectly inelastic, indicating that the quantity supplied does not change regardless of price changes. This is not typical for short-term adjustments.

### Conclusion:
When producers have little time to adjust to price changes, the shape of the supply curve is typically **B. Steep**. This reflects their inability to quickly alter production levels.

Knowee AI · Accepted Answer

To understand the shape of a supply curve when producers have limited time to adjust to price changes, we can analyze the characteristics of each option:

1. **Horizontal**: This indicates perfectly elastic supply, meaning producers will supply any quantity at a particular price. This scenario is unlikely when producers cannot adjust quickly.

2. **Steep**: A steep supply curve suggests that supply is inelastic, meaning producers cannot significantly increase output with price changes. This situation is common when they have little time to respond.

3. **Flat**: A flat supply curve indicates high elasticity, where producers can easily increase supply with minor price changes. Again, this is not applicable when they have limited time.

4. **Vertical**: A vertical supply curve means the supply is perfectly inelastic, indicating that the quantity supplied does not change regardless of price changes. This is not typical for short-term adjustments.

### Conclusion:
When producers have little time to adjust to price changes, the shape of the supply curve is typically **B. Steep**. This reflects their inability to quickly alter production levels.

What is the shape of a supply curve when producers have little time to adjust to price changes?A.HorizontalB.SteepC.FlatD.Vertical

Question

What is the shape of a supply curve when producers have little time to adjust to price changes?

Solution

Conclusion:

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