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.
B
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Which of the following is an argument that is used for protection from free trade?
i. the national security argument ii. the infant-industry argument iii. the dumping argument A) i only B) ii only C) iii only D) i and iii E) i, ii, and iii
Refer to the scenario above. What is the future value of Wendy's deposit after one year?
A) $2,110 B) $2,120 C) $2,360 D) $2,400
An economic community
(a) attempts to raise prices by restricting quantity. (b) seeks to stabilize commodity prices. (c) seeks concessional loans. (d) imposes a common external tariff. (e) none of the above.
What event led to the end of the Great Moderation?
A. The Great Depression B. The Great Crash C. Stagflation D. The Great Recession