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:

Large Intestine

The large intestine is the final section of the gastrointestinal tract that absorbs water and electrolytes, forming and excreting feces.

Enteric Neurons

The neurons of the enteric nervous system that govern the function of the gastrointestinal tract.

Epithelial Secretions

Substances released by epithelial cells, including mucus, sweat, enzymes, and hormones, which serve various functions in the body.

Enterogastric Reflex

A physiological reflex controlling the movement of food from the stomach to the small intestine, inhibiting gastric motility and secretion when the small intestine is overloaded.