Which of the Following Is a Determinant of Both Price

question 97

Multiple Choice

Which of the following is a determinant of both price elasticity of supply and price elasticity of demand?

• A) Availability of inputs
• B) Flexibility of the production process
• C) Adjustment time
• D) Degree of necessity

---

Definitions:

Switzerland

A country in Central Europe known for its neutrality, precision machinery, chocolate, and high-quality life.

Korea

A country located on the Korean Peninsula in East Asia, known for its rich cultural heritage, technological innovation, and divided into two sovereign states: North Korea and South Korea.

China

A country in East Asia, the world's most populous nation, with a rich history, diverse culture, and a rapidly growing economy.

Japan

A country located in East Asia, known for its rich culture, technological advancements, and significant contributions to the global economy.