Typically, the more time suppliers have to adjust to changing ...

[a0266361136]

Typically, the more time suppliers have to adjust to changing market conditions,
 
  A) the more elastic the supply curve.
  B) the more elastic the demand curve.
  C) the less elastic the supply curve.
  D) the less elastic the demand curve.

Question 2

The initial supply and demand curves for a good are illustrated in the above figure. If there are technological advances in the production of the good, then the new equilibrium price for the good
 
  A) is less than 6.
  B) is 6.
  C) is more than 6.
  D) could be less than, equal to, or more than 6.

[okolip]

Answer to Question 1

A

Answer to Question 2

A

[a0266361136]

Thank you

[okolip]

Happy to help you