The Responsiveness of Suppliers to Changing Prices Is Called The

question 69

Multiple Choice

The responsiveness of suppliers to changing prices is called the:

• A) cross elasticity.
• B) supply elasticity.
• C) supply period.
• D) income elasticity.

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Definitions:

Congress

The national legislative body of the United States of America, consisting of two chambers: the Senate and the House of Representatives.

De Novo

A Latin term meaning "from the beginning," used in law to indicate a trial or hearing is to be conducted anew.

ALJ

An Administrative Law Judge, who presides over hearings and disputes involving federal regulatory agencies, providing quasi-judicial decisions.

Governing Body

An organization or group in charge of making decisions and overseeing the administration of a specific area or institution.