Which of the following leads a good to have a high elasticity of supply? I. The good must be produced using unique resources. II. The good is produced using commonly available resources.
A) I only
B) II only
C) I and II
D) neither I nor II
Question 2
The relationship in the above figure indicates that
A) a decrease in the interest rate leads to a decrease in household income.
B) a decrease in household consumption leads to a decrease in interest rates.
C) a decrease in household income will lead household consumption to increase.
D) none of the above.
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