Which of the following is a primary determinant of the price elasticity of supply   ​? The price elasticity of supply is affected by   A. whether the good produced is a luxury or a necessity.   B. the share of the good in consumer budgets.   C. whether the good produced has close substitutes available.   D. the passage of time.   E. the definition of the market. In​ particular, the supply curve for a particular product will be increasingly more elastic over a ▼   longer shorter period of time.

Exploring Economics
8th Edition
ISBN:9781544336329
Author:Robert L. Sexton
Publisher:Robert L. Sexton
Chapter6: Elasticities
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Which of the following is a primary determinant of the
price elasticity of supply
 
​?
The price elasticity of supply is affected by
 
A.
whether the good produced is a luxury or a necessity.
 
B.
the share of the good in consumer budgets.
 
C.
whether the good produced has close substitutes available.
 
D.
the passage of time.
 
E.
the definition of the market.
In​ particular, the supply curve for a particular product will be increasingly more
elastic
over a
 
longer
shorter
period of time.
 
 
 
 
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