Which of the Following Resources Will Have the Most Inelastic

question 16

Multiple Choice

Which of the following resources will have the most inelastic supply in the short run?

• A) dentists
• B) receptionists
• C) waiters
• D) flight attendants

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Definitions:

Limited Liability

A legal principle that limits the financial liability of company owners to the amount they've invested in the business, protecting personal assets from company debts and obligations.

Equally Liable

A condition under which multiple parties are held jointly responsible to the same extent for a legal obligation or debt.

LLC Member

An owner or part-owner of a Limited Liability Company, who contributes to the business and shares in its profits and losses.

Operation of Law

Legal changes or transfers that happen automatically due to existing laws rather than through an agreement or court order.