A tavern is likely to have a ______________________ price elasticity of supply than does an antiques dealer due to ______________________.
A) more elastic; availability of inputs
B) less elastic; availability of inputs
C) less elastic; a longer adjustment time
D) less elastic; a shorter adjustment time

Question

Quizplus · Accepted Answer

Taverns can more easily adjust their supply in response to price changes due to the availability of inputs like food and beverages, making their supply more elastic compared to antiques dealers who have limited and unique inventory.

A Tavern Is Likely to Have a ______________________ Price Elasticity