The Most Important Determinant of the Elasticity of Supply Is

question 85

Multiple Choice

The most important determinant of the elasticity of supply is

• A) whether the good is a durable good or a nondurable good.
• B) the price of the good.
• C) the time period firms have to adjust to the new price.
• D) the proportion of the good in the budget of consumers.

---

Definitions:

Lens

in psychology, it often refers to the perspective or viewpoint through which an individual sees and interprets the world.

Aqueous Humor

A clear, watery fluid found in the eye, between the lens and the cornea, which helps to maintain intraocular pressure and provide nutrients.

Electromagnetic Spectrum

The range of all types of electromagnetic radiation, which includes, among others, radio waves, microwaves, infrared, visible light, ultraviolet, X-rays, and gamma rays.

Fovea

A small depression in the retina of the eye where visual acuity is highest, due to the dense concentration of cones.