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The Most Important Determinant of Price Elasticity of Supply Is

Question 8

Multiple Choice

The most important determinant of price elasticity of supply is


A) price elasticity of demand
B) technological conditions such as how rapidly costs increase when a firm increases its output
C) whether the production process relies heavily on capital or on labor
D) the number and closeness of available substitutes
E) whether the product is a normal good or an inferior good

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