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16. What factor has the greatest influence on elasticity and inelasticity of supply? A. profit B. time C. labor D. financing
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Asked 11/5/2013 12:29:00 PM
Updated 3/10/2015 12:22:38 PM
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Flagged by emdjay23 [3/10/2015 12:22:35 PM], Unflagged by emdjay23 [3/10/2015 12:22:36 PM]
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User: 16. What factor has the greatest influence on elasticity and inelasticity of supply? A. profit B. time C. labor D. financing

Question
Asked 11/5/2013 12:29:00 PM
Updated 3/10/2015 12:22:38 PM
1 Answer/Comment
Flagged by emdjay23 [3/10/2015 12:22:35 PM], Unflagged by emdjay23 [3/10/2015 12:22:36 PM]
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TIME has the greatest influence on elasticity and inelasticity of supply.

Added 3/10/2015 12:22:38 PM
This answer has been confirmed as correct and helpful.
Confirmed by jeifunk [3/10/2015 12:37:56 PM]
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Round 58,291 to the nearest thousand
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Not Answered
Updated 12/14/2014 11:35:52 AM
1 Answer/Comment

58,291 to the nearest thousand is 58,000.
Added 12/14/2014 11:35:50 AM
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13. What determines the price and the quantity produced of most goods? A. the consumer’s perception of necessity B. the interaction of supply and demand C. the availability of substitutes for the goods D. the quality of the goods that are produced
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Updated 1/6/2015 11:12:51 AM
1 Answer/Comment
The interaction of supply and demand determines the price and the quantity produced of most goods.


Added 1/6/2015 11:12:51 AM
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Confirmed by sujaysen [1/6/2015 11:29:57 AM]
1. What happens when wages are set above the equilibrium level by law? A. Firms tend to try to break the law and hire people at the equilibrium level. B. Firms employ more workers than they would at the equilibrium wage. C. Firms employ fewer workers than they would at the equilibrium wage. D. Firms hire more workers but for fewer hours than they would at the equilibrium wage.
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Expert Answered
Updated 3/10/2015 1:02:12 PM
1 Answer/Comment
When wages are set above the equilibrium level by law: firms employ fewer workers than they would at the equilibrium wage.


Added 3/10/2015 1:02:12 PM
This answer has been confirmed as correct and helpful.
Confirmed by sujaysen [3/10/2015 2:45:16 PM]
3. A shortage will develop when A. the quantity supplied of a good is greater than the quantity demanded of that good. B. the equilibrium quantity supplied is lower than the actual quantity supplied. C. the government provides subsidies to producers. D. the market price is below the equilibrium price.
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Expert Answered
Updated 287 days ago|10/3/2017 7:44:59 AM
2 Answers/Comments
A shortage will develop when: the quantity supplied of a good is greater than the quantity demanded of that good.
Added 287 days ago|10/3/2017 7:34:26 AM
This answer has been flagged as incorrect.
Flagged by Masamune [10/3/2017 7:45:02 AM]
A shortage will develop when the market price is below the equilibrium price.
Added 287 days ago|10/3/2017 7:44:59 AM
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