Which of the Following Is Likely to Be Associated with Inelastic

question 101

Multiple Choice

Which of the following is likely to be associated with inelastic supply?

• A) The time 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 under consideration is very short and the inputs necessary for production cannot readily be increased.

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Definitions:

Job Loss

The condition of being removed or dismissed from employment, leading to unemployment and potential economic and psychological consequences.

Depression

A mental health disorder characterized by persistently depressed mood or loss of interest in activities, causing significant impairment in daily life.

Incarceration

The state of being confined in prison or another facility as a form of punishment following a conviction for a crime.

Slum

Highly populated urban residential area consisting mostly of closely packed, decrepit housing units in a situation of deteriorated or incomplete infrastructure, inhabited primarily by impoverished persons.