The Most Important Determinant of Price Elasticity of Supply Is

question 8

Multiple Choice

The most important determinant of price elasticity of supply is

• A)price elasticity of demand
• B)technological conditions such as how rapidly costs increase when a firm increases its output
• C)whether the production process relies heavily on capital or on labor
• D)the number and closeness of available substitutes
• E)whether the product is a normal good or an inferior good

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Definitions:

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