A Tavern Is Likely to Have a ______________________ Price Elasticity

question 86

Multiple Choice

A tavern is likely to have a ______________________ price elasticity of supply than does an antiques dealer due to ______________________.

• A) more elastic; availability of inputs
• B) less elastic; availability of inputs
• C) less elastic; a longer adjustment time
• D) less elastic; a shorter adjustment time

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Definitions:

Hysteria

A historical diagnosis for a variety of psychological symptoms including overwhelming emotions and physiological disturbances, not used in modern medical terminology.

Hypnotism

A trance-like state of focused attention, reduced peripheral awareness, and increased responsiveness to suggestion.

Syndromes

A collection or set of symptoms and signs that are often found together and characterize a particular disease or medical condition.