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Author Question: As producers have more time to adjust to a price change, price elasticity of supply a. increases ... (Read 172 times)

mwit1967

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  • Posts: 501
on: Jul 1, 2018
As producers have more time to adjust to a price change, price elasticity of supply
 a. increases
  b. decreases
  c. remains the same
  d. rises and then falls
  e. falls and then rises

Question 2

The supply curve will be more elastic if
 a. the good has few substitutes
  b. the time the producer has to adjust is long
  c. the time frame for adjusting to price changes is short
  d. demand is elastic
  e. demand is inelastic


cascooper22

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  • Posts: 312
Reply #1 on: Jul 1, 2018
Answer to Question 1

A

Answer to Question 2

B


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