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:

State Religion

A religious body or creed officially endorsed by the state, often with legal or financial advantages not afforded to other religions.

Roman Empire

An ancient civilization that originated from the city of Rome, known for its extensive territorial conquests, architectural innovations, and as a pivotal influence on Western civilization.

Ecclesia

Are state-supported churches.

Nonreligious Authorities

Figures or bodies that hold power and influence without basis in any religious system, often found within secular institutions.