The supply of a good is more price elastic
A)the more alternatives there are to producing the good in question
B)the more broadly the market for the good is defined.
C)the shorter the time horizon over which it is measured.
D)the higher the cost of production.
E)the more elastic the demand for that good.

Question

Quizplus · Accepted Answer

The supply of a good is more price elastic when there are more alternatives to producing it, as producers can easily switch to producing other goods if the price changes.

The Supply of a Good Is More Price Elastic