Which of These Is Considered a Primary Determinant of Price

question 273

Multiple Choice

Which of these is considered a primary determinant of price elasticity of supply?

• A) whether a good is a luxury item
• B) the availability of substitutes
• C) the time available to make changes to manufacturing plants
• D) the proportion of household income spent on the product or service

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Definitions:

Stress

A psychological and physical response to demands that exceed an individual’s coping abilities.

Work-Related Experiences

Encounters or activities that an individual has while employed, contributing to their professional skills and knowledge.

Diagnosis

The process of identifying a disease, condition, or problem by analyzing its symptoms and signs, and sometimes through further medical testing.

Fight-or-Flight

A physiological response to perceived harmful events, attacks, or threats to survival, preparing the body to either confront or avoid the danger.