Multiple Choice
Which of the following is likely to be associated with inelastic supply?
A) The time under consideration is very short.
B) The inputs necessary for production cannot readily be increased.
C) The good is necessary for survival (e.g., a life-saving drug) .
D) The time under consideration is very short and the inputs necessary for production cannot readily be increased.
Correct Answer:

Verified
Correct Answer:
Verified
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