Change:  (time is too short for any response) It has a Vertical Supply Curve (meaning it is inelastic) Price Elasticity of Supply: the Short Run (fixed-plant period): supply is more elastic, but not terribly so, as the time period is short The period of time is   View changes from previous version. (Word count: 486)

Change: PERIODS:PERIODS: Market period--> short run --> long run Price Elasticity of Supply: the Market Period: The period that occurs when the time immediately after a change in market price is too short for producers to respond with a change in quantity supplied. Suppliers cannot be   View changes from previous version. (Word count: 460)

Change: antiquesAntiques and reproductionReproduction antiques are impossible to reproduce because these product have high inelastic supply. price of the product is only slightly affected by the changes of supply and demand. Even though some other products are found, they are minimally affected. Volatile Gold Prices Price of   View changes from previous version. (Word count: 458)

Change:  production and output by working longer hours, having workers work overtime, and using all available resources to the max Price Elasticity of Supply: the Long Run (variable-plant period): supply becomes more elastic over a longer period of time. Why? because over time, new technology   View changes from previous version. (Word count: 430)

Change: really small amount that notminimally affectable.affected. Volatile Gold Prices Price of gold is volatile, sometimes shooting upward and shooting downward the next. This happens because of shifts in demand and highly inelastic supply. Gold production is expensive and takes a lot of time with all the processesconsuming   View changes from previous version. (Word count: 404)

Change: There were only format changes (bold, italics, etc.) in this version. See this version for details. (Word count: 367)

Change:  Unlike PED, there does not exist a Total Revenue Test for Price Elasticity of Supply. Price Elasticity of Supply: the Market Period: The period that occurs when the time immediately after a change in market price is too short for producers to respond with a change in quantity supplied.   View changes from previous version. (Word count: 356)

Change: size and adjust their production plants to conservesuit whatever new product they moneywant to produce. Applications of Price Elasticity of Supply: antiques and reproduction antiques are impossible to reproduce because these product have high inelastic supply. price of the product is only   View changes from previous version. (Word count: 297)

Change: Why? because over time, new technology will adapt to the change in price to create more efficiency, and more time is allowed to allocate resources to a different field or allocate more resources to the same field ex. in the long-run, people would buy   View changes from previous version. (Word count: 255)

Change: Elasticity of Supply: antiques and reproduction antiques re impossible to reproduce that these product have high inelastic supply. price of the product is only slightly effected by the changes of supply and demand. Even thought some other products are found, those are really small amount that not effectable.   View changes from previous version. (Word count: 218)