A baker of chocolate chip cookies is likely to have a _____ price elasticity of supply than the seller of rare baseball cards due to _____.
A) more elastic; the availability of inputs
B) less elastic; the availability of inputs
C) less elastic; a shorter adjustment time
D) less elastic; a more flexible production process

Question

Quizplus · Accepted Answer

The baker of chocolate chip cookies is likely to have a more elastic price elasticity of supply than the seller of rare baseball cards because the inputs for making cookies are more readily available and can be adjusted more quickly to changes in price, allowing for a more responsive supply.

A Baker of Chocolate Chip Cookies Is Likely to Have