Consider the supply of oil. What would make the supply of oil more elastic? The supply of oil would become more elastic if O A. it becomes a larger portion of a consumer's budget. O B. the time horizon becomes longer. OC. the definition of the market becomes narrower. O D. more substitutes were available. O E. it were more of a luxury.

Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
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Consider the supply of oil. What would make the supply of oil more elastic?
The supply of oil would become more elastic if
O A. it becomes a larger portion of a consumer's budget.
O B. the time horizon becomes longer.
OC. the definition of the market becomes narrower.
O D. more substitutes were available.
O E. it were more of a luxury.
Transcribed Image Text:Consider the supply of oil. What would make the supply of oil more elastic? The supply of oil would become more elastic if O A. it becomes a larger portion of a consumer's budget. O B. the time horizon becomes longer. OC. the definition of the market becomes narrower. O D. more substitutes were available. O E. it were more of a luxury.
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