Multiple Choice
The most important determinant of price elasticity of supply is
A) the number of close substitutes there are for the good.
B) the time period firms have to adjust to the new price.
C) the price of the good.
D) the importance of the good in the budgets of consumers.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q377: The responsiveness of quantity demanded of a
Q378: Which of the following statements is correct?<br>A)
Q379: "Price elasticity measures how many more units
Q380: When two goods are substitutes for each
Q381: Tickets for the Super Bowl are an
Q383: Which of the following is NOT a
Q384: Suppose two goods are perfect substitutes. The
Q385: The absolute price elasticity of demand for
Q386: If a 10 percent change in the
Q387: Which of the following goods is likely