A tavern is likely to have a _____ price elasticity of supply than 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

A tavern can more easily adjust its supply in response to price changes because the inputs (like food and beverages) are more readily available and can be adjusted quickly, unlike antiques, which are unique and harder to find or produce on short notice.

A Tavern Is Likely to Have a _____ Price Elasticity