ummmm well Pr = inactive form. so when it meets red light (natural light) it becomes activated into Pfr. as an enzyme triggers synthesis or activation of specific proteins in specific cells or altering transcription of genes, eventually causing a response. The amount of phytochrome in each form will enable plant to measure daylenght/nightlength = involved in photoperiodism.
And when Pfr meets with far red light (in the dark), it become inactivated again and is now Pr.
EDIT: just read q. again. ok, so when it absorbs red light it becomes activated in Pfr. When the enzyme did things to lead to a response i think this could have included stem elongation.
but with "The result will be stem elongation as Pfr prevents stem elongation" - i dont think that makes sense?
