The Fundamental Determinant of the Elasticity of Supply Is

question 52

Multiple Choice

The fundamental determinant of the elasticity of supply is:

• A) how many substitute goods exist.
• B) the price of the good.
• C) how quickly the per-unit cost of production increases with an increase in production.
• D) the rate of change of quantity demanded as compared to the quantity supplied.

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Definitions:

Collecting Ducts

Tubules in the kidneys that receive urine from the nephrons and transport it into the renal pelvis and ureter.

Reabsorbed

The process by which substances are taken back into the blood from the filtrate produced in the kidneys.

Concentration Gradient

A variation in the concentration of a substance across a distance; a key factor in diffusion processes.

Loop Of Henle

A section of the nephron in the kidney that concentrates urine and reabsorbs water and ions.