The More Elastic the Supply of a Product, the More

question 258

Multiple Choice

The more elastic the supply of a product, the more likely that the actual benefit of a subsidy granted of the product will

• A) go to sellers.
• B) go to buyers.
• C) go equally to both buyers and sellers.
• D) do none of the above.

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Definitions:

Supply Chain

A network between a company and its suppliers to produce and distribute a specific product to the final buyer.

Produced

The result of manufacturing or creating goods and services through the combination of various resources.

Consumed

Utilized or used up completely, typically referring to resources, products, or services that have been utilized by end-users.

Mode of Transportation

The method or means by which people, materials, and goods are moved from one place to another, such as by land, air, sea, or rail.