elasticity of is the 23) Goods that can be produced using rare productive resources have a supply. The greater the amount of time available after a price change, the elasticity of supply. A) high, more inelastic B) low; smaller C) high, greater D) low, greater E) high, smaller

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Tod ThielLv2

24 May 2018

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Related questions

the elasticity of resource demand will be greater the

a. smaller the portion of the product's total costs accounted for by the resource.

b. less the elasticity of demand for the product it is producing

c. easier it is to substitute resources that are available

d. less the elasticity of resource supply.

turquoisesalmon794

43) The demand for corn increases. As a result, the price of corn , and the less elastic the supply of corn, the will be the effect on the price. A) falls; greater B) rises: smaller C) rises; greater D) falls; smaller E) None of the above because the change in the price is effected by the price elasticity of demand.

15) Consider a firm's price elasticity of supply. If firms' costs rise rapidly as output increases, the A) supply curve will tend to be flat. B) demand curve will tend to be steep. C) elasticity of demand will tend to be low. D) price elasticity of supply will tend to be high. E) price elasticity of supply will tend to be low.