One Reason Why the Price Elasticity of Supply for DVD

question 317

Multiple Choice

One reason why the price elasticity of supply for DVD players is greater than one is that

• A) the cost of producing DVD players is small.
• B) the storage of DVD players is not possible.
• C) DVD players can be easily stored.
• D) the demand for DVD players is fairly large.
• E) DVD players require relatively advanced technology for their production.

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Definitions:

Blocking

A technique in experimental design used to remove the effects of confounding variables by grouping subjects that are similar in some way.

Five-point Scale

A scale commonly used in surveys and questionnaires that offers five possible responses to a question, often ranging from "Strongly Agree" to "Strongly Disagree".

Bottled Water

Water that is packaged in plastic or glass bottles, often purified or sourced from springs or artesian wells.

Blocking

A method in experimental design to reduce variance by grouping experimental units with similar characteristics together and then randomly assigning treatments within these groups.