Multiple Choice
The most important determinant of the elasticity of supply is
A) whether the good is a durable good or a nondurable good.
B) the price of the good.
C) the time period firms have to adjust to the new price.
D) the proportion of the good in the budget of consumers.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q80: If demand is unit-elastic throughout the demand
Q81: If the quantity supplied stays the same
Q82: Which of the following is FALSE regarding
Q83: Suppose that the cross price elasticity of
Q84: What does a perfectly elastic demand curve
Q86: If the price of oranges went up
Q87: If there is no response in quantity
Q88: If price decreases by 10 percent and
Q89: Why is elasticity of demand greater for
Q90: Other things being equal, the longer a