PRC-3 · Chapter 11 · Question 47 of 57
Because durable manufactured goods (like televisions) can be easily stored in warehouses without spoiling while waiting for prices to rise, their supply is generally:
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: A) More elastic
Explanation
Durable goods can be stockpiled and released to the market quickly in response to price increases, giving them a more elastic supply than perishable goods.
More Elasticity of Demand and Supply MCQs
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