A rare coin dealer is likely to have a _______________ price elasticity of supply than does a coffee shop due to ____________________.
A. more elastic; the availability of inputs
B. less elastic; the availability of inputs
C. more elastic; a longer adjustment time
D. more elastic; a shorter adjustment time
B. less elastic; the availability of inputs
You might also like to view...
Dramatically redistributing income from the rich to the poor could make society worse off
a. True b. False Indicate whether the statement is true or false
In response to the recession of 2008-2009, the Fed doubled its asset holdings from $925 billion at mid-year 2008 to more than $2 trillion by mid-year 2009 . This policy
a. reduced the reserves available to banks, leading to a larger money supply. b. reduced the reserves available to banks, causing the money supply to decline. c. increased the reserves available to banks, leading to a larger money supply. d. increased the reserves available to banks, causing the money supply to decline.
Under what conditions can sellers engage in price discrimination?
What will be an ideal response?
Parity pricing was designed to
a. create income equality among farmers b. maintain farmers' purchasing power relative to nonfarmers' purchasing power c. provide an incentive for farmers to leave farming for nonfarming economic activity d. encourage investment in agriculture by providing below-equilibrium prices for agricultural equipment e. restore market prices in agriculture to their equilibrium levels