Answered: An important factor affecting price…

An important factor affecting price elasticity of supply is OA. proportion of income spent on the product or service. OB. availability of additional inputs. OC. sunk costs. OD. none of the above.

Principles of Microeconomics

7th Edition

ISBN:9781305156050

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter5: Elastic And Its Application

Section5.2: The Elasticity Of Supply

Problem 2QQ: Define the price elasticity of supply. Explain why the price elasticity of supply might be...

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Question

An important factor affecting price elasticity of supply is
O A. proportion of income spent on the product or service.
OB. availability of additional inputs.
OC. sunk costs.
OD. none of the above.

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