A determinant of the price elasticity of supply that is also a determinant of the price elasticity of demand is:
A. availability of inputs.
B. flexibility of the production process.
C. adjustment time.
D. whether the good is a luxury or a necessity.
C. adjustment time.
Economics
You might also like to view...
To ensure that the fundamental identity of national income accounting holds, changes in inventories are
A) treated as part of expenditure. B) treated as part of saving. C) ignored. D) counted as consumption.
Economics
Economists make use of assumptions, some of which are unrealistic, for the purpose of
a. teaching economics to people who have never before studied economics. b. advancing their political agendas. c. developing models when the scientific method cannot be used. d. focusing their thinking.
Economics