A corn farmer is likely to have a _____________ price elasticity of supply than does a tree farmer due to ________________.
A. more elastic; a more flexible production process
B. less elastic; a more flexible production process
C. less elastic; a less flexible production process
D. more elastic; a less flexible production process
A. more elastic; a more flexible production process
Economics
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When consumers have less information about a product than do sellers, then this is the situation of
A) asymmetric information. B) rationality. C) caveat emptor. D) a market failure.
Economics
Which of the following is included in M1?
A. Savings accounts B. Money market deposit accounts C. Money market mutual funds D. Certificates of deposit E. None of the above is included.
Economics