Which of the following is a key determinant of the price elasticity of supply?
A) the available technology
B) the availability of substitutes in production
C) the time it takes to change output in response to a change in price
D) the slope of the supply curve
C
Economics
You might also like to view...
Which of the following is likely to be true when the economy is in a boom?
A) The inflation rate is negative. B) The size of government expenditure multiplier is small. C) The size of government expenditure multiplier is large. D) The unemployment rate is high.
Economics
What is the one thing that all firms in an imperfectly competitive market have in common?
What will be an ideal response?
Economics