Multiple Choice
Which of these is a determinant of price elasticity of supply?
A) substitutability
B) the amount of income spent on the good
C) the time it takes to change plant capacity, and the number of firms in the industry
D) resource costs associated with the good
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q4: A unitary elastic demand means that if
Q5: If the income elasticity of demand for
Q6: A popular restaurant makes 2,000 of its
Q7: The short run is defined as a
Q8: If price increases by 10% while quantity
Q10: Assume the demand for coffee is inelastic.
Q11: A tax in which the percentage of
Q12: A good with an income elasticity that
Q13: Suppose that at P = $4, Q<sub>d</sub>
Q14: A vertical demand curve has a price