Which of the following is not a determinant of price elasticity of supply?
A) Adjustment time
B) Scope of the market
C) Flexibility of the production process
D) Availability of inputs

Question

Quizplus · Accepted Answer

Scope of the market refers to the size of the market and the number of potential buyers. This is a determinant of demand elasticity, not supply elasticity. The determinants of price elasticity of supply are adjustment time, flexibility of the production process, availability of inputs, and mobility of factors of production.

Which of the Following Is Not a Determinant of Price