Which of the Following Statements Is Correct

question 378

Multiple Choice

Which of the following statements is correct?

• A) Supply is more elastic in the short run than in long run.
• B) Supply is more elastic in the long run than in short run.
• C) Price elasticity of supply is constant along the supply curve.
• D) Price elasticity of supply is always a negative number.

---

Definitions:

Subcontracted

The process of assigning part of the obligations and tasks of a primary contract to another party or contractor.

Valid Liens

Legally enforceable claims or rights against property to secure the payment of a debt or obligation.

Conditional Sale Agreement

A contract for the sale of goods where the purchase price is paid in installments and the ownership of the goods does not pass to the buyer until certain conditions, usually the full payment of the purchase price, are met.

Personal Property Security Registry

A public database where security interests in personal property (assets other than real estate) are registered to establish priority of claims for creditors.