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MMLU / The elasticity of supply is typically greater when

Problem

Answer published by the source. Consult the official source to check your work against its answer.

question

The elasticity of supply is typically greater when

choices

  1. producers have fewer alternative goods to produce.
  2. producers have less time to respond to price changes.
  3. producers are operating near the limits of their production.
  4. producers have more time to respond to price changes.

subject

high_school_microeconomics

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Official source

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