A Key Determinant of the Price Elasticity of Supply Is

question 283

Multiple Choice

A key determinant of the price elasticity of supply is the

• A) number of close substitutes for the good in question.
• B) definition of the market.
• C) length of the time period.
• D) extent to which buyers alter their quantities demanded in response to changes in their incomes.

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Definitions:

Direct Response

A type of marketing designed to elicit an immediate reaction and compel prospects to take a specific action, such as ordering a product.

Goodwill Talk

A conversational approach aimed at building or maintaining positive relationships between individuals or organizations.

We-viewpoint

The we-viewpoint is a perspective in communication that emphasizes inclusivity and collective action, often used to build rapport and teamwork.

Order Acknowledgement

A confirmation message sent to inform a buyer that their purchase order has been received and is being processed by the seller.