A Key Determinant of the Price Elasticity of Supply Is

question 11

Multiple Choice

A key determinant of the price elasticity of supply is

• A)the ability of sellers to change the price of the good they produce.
• B)the ability of sellers to change the amount of the good they produce.
• C)how responsive buyers are to changes in sellers' prices.
• D)the slope of the demand curve.

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Definitions:

Hydrogen Bond

A modest bond formed between two molecules as a result of the electrostatic interaction between a proton found in one molecule and an atom that is electronegative in the other molecule.

Opposite Charge

A fundamental principle in physics and chemistry where two entities have electrical charges of different signs, such as positive and negative, attracting each other.

Chemical Bond

The force of attraction between atoms or ions that enables the formation of chemical compounds.

Atomic Number

The number of protons in the nucleus of an atom, determining the chemical properties of an element and its place in the periodic table.