Solved

Which of the Following Explains Why Supply Is More Elastic

Question 24

Multiple Choice

Which of the following explains why supply is more elastic as more time passes?


A) Sellers try to take advantage of a high price in the short term.
B) It is difficult or impossible to increase the quantity produced in a short period of time.
C) The supply curve becomes generally steeper as more time passes.
D) Consumers have more time to search for substitutes.
E) There is no explanation for this phenomenon.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions