The Most Important Determinant of Price Elasticity of Supply Is

question 382

Multiple Choice

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.

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Definitions:

Mania

A mental state characterized by extremely elevated mood, energy, and abnormal levels of activity, enthusiasm, or excitement.

Self-esteem

A measure of how much value people place on themselves, often seen as a reflection of an individual's overall subjective emotional evaluation of their own worth.

Suicidal

Pertaining to having thoughts of, tendencies towards, or actions aimed at ending one's own life.

Caucasian Men

Men who belong to or are identified with the white racial group, especially of European origin.