Due to Capacity Constraints, the Price Elasticity of Supply for Most

question 18

Multiple Choice

Due to capacity constraints, the price elasticity of supply for most products is:

• A) the same in the long run and the short run.
• B) greater in the long run than the short run.
• C) greater in the short run than in the long run.
• D) too uncertain to be estimated.

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Definitions:

Renal Cortex

The outermost layer of the kidney.

Renal Column

The portion of the renal cortex between the renal pyramids.

Pyramids

Ancient monumental structures, typically with a square base and four triangular sides, found in various civilizations.

Glomerulus

A group of capillaries in the renal corpuscle.