A farmer is likely to have a _____________ price elasticity of supply than an auto mechanic due to ________________.
A)more elastic;a more flexible production process
B)less elastic;a more flexible production process
C)less elastic;a less flexible production process
D)more elastic;a less flexible production process

Question

Quizplus · Accepted Answer

A farmer is likely to have a more elastic price elasticity of supply than an auto mechanic because a farmer has a more flexible production process. A farmer can easily adjust the amount of land, labor, and capital used to produce crops, while an auto mechanic cannot easily adjust the amount of labor and capital used to produce cars.

A Farmer Is Likely to Have a _____________ Price Elasticity