The Longer the Time Period Considered, the Elasticity of Supply

question 109

Multiple Choice

The longer the time period considered, the elasticity of supply tends to:

• A)​decrease.
• B)​remain constant.
• C)​increase.
• D)​converge to zero.

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Definitions:

Mortgage

A loan taken out by people to purchase a house.

Co-op

A cooperative, which is an organization owned and operated by its members who share the benefits.

Cooperative Corporation

A business entity owned and operated by a group of individuals for their mutual benefit, where profits and earnings are distributed among the members.

Shares

Represents units of ownership in a company or financial asset, giving the holder a portion of the corporation's earnings and assets.