Which of the Following Is Likely to Make Supply More

question 63

Essay

Which of the following is likely to make supply more inelastic?
A.The time period under consideration is very short.
B.The inputs necessary for production cannot readily be increased.
C.The good is necessary for survival (e.g., a life-saving drug).
D.The time period under consideration is very short and the inputs necessary for production cannot readily be increased.

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Definitions:

Exchanging Valued

Refers to the process of giving and receiving goods, services, or ideas that hold significance or worth to the involved parties.

Inspirational Relationships

Connections formed between individuals that motivate and uplift, often leading to enhanced performance and personal growth.

Socioemotional Support

Assistance that provides emotional comfort and builds trust, often crucial in maintaining strong, supportive relationships and community ties.

Task Structure

The clarity, complexity, and nature of the jobs or tasks assigned in a work environment, influencing how they can be performed and managed.