The supply curve for a good will be more elastic if:
A) spending on the good accounts for a large share of a consumer's income.
B) the good is a luxury item.
C) production inputs are readily available at a relatively low cost.
D) there is very little time for producers to respond to a price change.

Question

Quizplus · Accepted Answer

The supply curve is more elastic when production inputs are readily available at a relatively low cost, as producers can increase output more easily in response to price changes.

The Supply Curve for a Good Will Be More Elastic