The Most Important Determinant of the Elasticity of Supply Is

question 85

Multiple Choice

The most important determinant of the elasticity of supply is

• A) whether the good is a durable good or a nondurable good.
• B) the price of the good.
• C) the time period firms have to adjust to the new price.
• D) the proportion of the good in the budget of consumers.

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Definitions:

Job Order Cost Accounting

An accounting system that accumulates costs for each individually identifiable job or batch, enabling precise cost tracking and management.