Elasticity of Supply Will Increase When

question 33

Multiple Choice

Elasticity of supply will increase when

• A)the number of producers selling a product decreases.
• B)producers are given less time to respond to price changes.
• C)the number of consumers wanting to purchase a product increases.
• D)it becomes easier to substitute one factor of production for another in a manufacturing process.

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Definitions:

Reading Ability

The capacity to comprehend, interpret, and derive meaning from written words and sentences.

Female High School

An educational institution specifically for female students at the secondary level.

Heritability

A measure of how much of the variation in a trait among individuals within a given population can be attributed to genetic differences.

Polygenetic Factors

Traits or conditions that are influenced by multiple genes rather than a single gene.