Which of the Following Explains Why Local Supply Tends to Be

question 22

Multiple Choice

Which of the following explains why local supply tends to be more elastic than global supply?

• A) As price increases in a certain locale, it is often costly to transport more goods to that particular area, and hence supply is more elastic.
• B) Local suppliers are small in relation to the global market.
• C) The statement is false; local supply tends to be less elastic than global supply.
• D) As price increases in a certain locale, goods can be brought in from other areas, which is not possible on a global scale.

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