What Is a Key Determinant of the Elasticity of Supply

question 101

Multiple Choice

What is a key determinant of the elasticity of supply

• A)the ability of sellers to change the price of the good they produce
• B)the number of firms in the market
• C)how responsive buyers are to changes in sellers' prices
• D)the ability of sellers to change the amount of the good they produce

---

Definitions:

Plaintiff

The party who initiates a lawsuit by filing a complaint with the court against the defendant.

Specific Performance

A legal remedy in contracts law where a court orders a party to perform their part of the contract, rather than paying damages for breaching it.

Equitable Remedy

A legal remedy provided by the court that involves actions rather than monetary awards, often used when financial compensation does not suffice to solve the problem.

Da Vinci

Leonardo da Vinci, a polymath of the Renaissance period known for his works in art, science, and engineering.