The most important determinant of price elasticity of supply is
A) the number of close substitutes there are for the good.
B) the time period firms have to adjust to the new price.
C) the price of the good.
D) the importance of the good in the budgets of consumers.
B
Economics
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The first actions taken socially to compel conformity to abolitionist sentiments was taken by:
a. the Puritans. b. various Plains Indian tribes. c. the Germantown Quakers. d. Roman Catholics.
Economics
Total profit is maximized where
a. MR = MC. b. marginal profit is zero. c. the slope of the marginal profit curve is zero. d. All of the above are correct.
Economics