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The Longer the Period of Time Allowed for the ___________

Question 107

Multiple Choice

The longer the period of time allowed for the ___________ of a good to adjust to a change in the price of the good, the ___________ the price elasticity of supply will be. This statement assumes that the quantity supplied __________ be altered with time.


A) producer; higher; can
B) consumer; higher; can
C) producer; lower; can
D) producer; lower; cannot

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