An Important Determinant of the Price Elasticity of Supply Is

question 139

Multiple Choice

An important determinant of the price elasticity of supply is

• A) the time period firms have to adjust to a new price.
• B) how well consumers like the commodity.
• C) the proportion of the consumer's total budget spent on the good.
• D) whether the good is a durable or a nondurable.

---

Definitions:

Productivity Workers

Refers to the efficiency of labor in converting raw materials or inputs into outputs or goods and services.

Human Capital

Knowledge, skills, and experience that make an individual more productive and thereby able to earn a higher income over a lifetime.

Online Programs

Courses or degrees offered through the internet, allowing students to complete education remotely.

Job Market Signals

Indicators or attributes used by job seekers and employers to convey and infer information regarding the quality and characteristics of employment opportunities and potential employees.