The Price Elasticity of Supply Measures

question 255

Multiple Choice

The price elasticity of supply measures

• A)the responsiveness of quantity supplied to changes in input prices.
• B)the responsiveness of quantity supplied to changes in technology.
• C)the responsiveness of quantity supplied to changes in price.
• D)a supplier's ability to produce a good in the face of scarcity.

---

Definitions:

Reciprocal Altruism

A social behavior where an organism acts in a manner that temporarily reduces its fitness while increasing another organism's fitness, with the expectation that the other organism will act in a similar manner at a later time.

Central Idea

The core point or primary concept that is being communicated in a text or speech.

Personal Preferences

Individual likes or choices regarding various aspects of life, shaped by personal experiences, beliefs, or innate tendencies.

Inductive Organization

A method of organization where specific examples or details are presented before leading to a general conclusion or statement.