Which of the Following Explains Why Supply Is More Elastic

question 309

Multiple Choice

Which of the following explains why supply is more elastic as more time passes?

• A) It is difficult or impossible to increase the quantity produced in a short period of time.
• B) Consumers have more time to search for substitutes.
• C) Sellers try to take advantage of a high price in the short term.
• D) The supply curve becomes generally steeper as more time passes.
• E) There is no explanation for this phenomenon.

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Definitions:

Fugitive Slaves

Escaped slaves seeking freedom from bondage, who were often subject to laws compelling their return to enslavement.

Transportation Infrastructure

The framework of facilities and systems that support the movement of people and goods, including roads, bridges, railways, ports, airports, and public transit.

Foreign Investors

Individuals or companies from one country investing capital in businesses, real estate, or other assets in another country.

Private Investors

Individuals or entities that invest their own money, directly or indirectly, in businesses or projects with the expectation of achieving a financial return.