Are there any instances where short run demand/supply is more elastic than long run cases?

Question

Conventionally both demand and supply for goods and services are both more elastic in the long run than in the short run. My Question>*Is there ever an instance where demand and/or supply for a given good be more elastic in the short run than in the long run?*That being said if there is never such an instance, does there exist a general proof refuting such an instance?

Answer 1

The elasticity of demand depends upon the number and availability of substitutes. in the very short rumn we can be held hostage. If the government were to put a $3 per gallon tax on Gasoline we would have to bite the bullet, maybe make a fe less trips , Over time we may sell our SUV and buy a hybrid. Start carpooling, shop online and take public transportation. In the long run the demand response to a price change will always be more elastic than in the short run.

With Supply, the number of firms in the market is fixed in the short run. If demsnd were to shift to the right the initial shortage would drive up prices and profits to those firms already in th market. This induces entry into the market increasing out put further. As long as there is entry and exit, the long run supply curve will always be more elastic