Question

the supply of a good will be more elastic, the a. more the good is considered a luxury. b. broader is the definition of the market for the good. c. larger the number of close substitutes for the good. d. longer the time period being considered.

Answer 1

The correct answer is Option D.

The longer the time period under consideration, the more elastic the supply of a good will be.

What is supply of goods ?

• The following are included in a supply of goods: the agreement-based transfer of property rights over things. the commission-based sale of tangible things because of an auctioneer or dealer acting under his and her own name but following another person's instructions. delivery of items under a hire-purchase agreement.

• In general, supply refers to the complete amount of goods and services that such a producer is ready to provide at a specific price and location.

• Even as a profession, selling products or services counts as a supply under the GST. Therefore, the sale would represent supply even if a well-known politician created paintings for charities and sold them, even once.

To learn more about supply of goods refer to :

brainly.com/question/4804206

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