Which of the Following Is the Most Important Determinant of the Elasticity

question 40

Multiple Choice

Which of the following is the most important determinant of the elasticity of supply?

• A)​The number of uses for the product.
• B)​The number of close substitutes to the product available to consumers.
• C)​The amount of time producers have to adjust their behavior in response to a price change.
• D)​The percentage of their incomes consumers spend on the product.

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Definitions:

Modifiable Risk Factor

A risk factor for disease or injury that can be reduced or controlled through changes in behavior or environmental exposure.

Sedentary Lifestyle

A way of life that involves little to no physical activity, often associated with increased health risks like obesity and cardiovascular disease.

Diet

The kinds of food that a person, animal, or community habitually eats, often tailored for health, cultural, ethical, or weight-management reasons.

Wellness

The active process of becoming aware of and making choices towards a healthy and fulfilling life, encompassing physical, mental, and social well-being.