Decreases in Input Costs and a Longer Time Since a Price

question 8

Multiple Choice

Decreases in input costs and a longer time since a price change will tend to:

• A) increase the price elasticity of supply.
• B) decrease price elasticity of supply.
• C) have no impact on the price elasticity of supply.
• D) increase price elasticity of supply with decreases in input costs but decrease price elasticity of supply with length of time.
• Answer Key

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Definitions:

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