A Determinant of the Price Elasticity of Supply That Is

question 129

Multiple Choice

A determinant of the price elasticity of supply that is also a determinant of the price elasticity of demand is:

• A) availability of inputs.
• B) flexibility of the production process.
• C) adjustment time.
• D) whether the good is a luxury or a necessity.

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Definitions:

Unanimous Vote

A voting result where all voters agree and approve a motion, resolution, or proposal without any dissent.

New Equipment

Recently manufactured tools, machinery, or devices that are used to perform specific tasks, typically more advanced or efficient than older models.

Alteration in Nature

Significant changes to the natural environment, often due to human activity or environmental phenomena.

Partnership Property

Assets acquired or owned by a partnership, used in conducting the partnership's business.