The Price Elasticity of Supply Will Tend to Be Inelastic

question 91

Multiple Choice

The price elasticity of supply will tend to be inelastic in the short run when:

• A) inputs are readily available
• B) the industry does not have to pay overtime if additional working hours are required
• C) firms have spare capacity
• D) inputs are not readily available

---

Definitions:

Common Bile Duct

A duct that carries bile from the liver and gallbladder to the duodenum, part of the digestive system.

Common Hepatic Duct

A duct in the liver through which bile passes from the liver to the gallbladder and to the duodenum.

Falciform Ligament

A ligament that attaches the liver to the front wall of the abdomen and the diaphragm, separating the liver's left and right lobes.

Pancreatic Duct

A conduit through which digestive enzymes from the pancreas are delivered to the small intestine.