Which of the Following Explains Why Supply Is More Elastic

question 24

Multiple Choice

Which of the following explains why supply is more elastic as more time passes?

• A) Sellers try to take advantage of a high price in the short term.
• B) It is difficult or impossible to increase the quantity produced in a short period of time.
• C) The supply curve becomes generally steeper as more time passes.
• D) Consumers have more time to search for substitutes.
• E) There is no explanation for this phenomenon.

---

Definitions:

Situational Approach

A leadership framework which suggests that the most effective style of leadership is contingent upon the situation at hand.

Criticism

The expression of disapproval of someone or something based on perceived faults or mistakes.

Commitment

A state or quality of being dedicated to a cause, activity, or job; wholehearted devotion.

Situational Approach

A theory of leadership that suggests leaders must adjust their style to fit the development level of their followers or the specifics of the situation.