For Each of the Following Sentences, Select the List of Words

question 22

Multiple Choice

For each of the following sentences, select the list of words that should include apostrophes. Its eight o'clock and time for my favorite TV shows.

• A) It's
• B) It's, show's
• C) show's

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Definitions:

Long-Run

A period in which all factors of production and costs are variable, allowing companies the flexibility to make changes in production capacity and operations.

Few Substitutes

Refers to a market condition where there are not many alternative products or services available to consumers, which often leads to less competition and higher prices.

Inelastic Demand

A situation in which the demand for a product does not change much in response to price changes.

Close Substitutes

Products that serve similar functions or needs and can easily replace one another in the eyes of the consumer.