A good is considered [___] when producers can quickly supply more or less of it based on changing prices.

Question

Revolt · Accepted Answer

elastic; A good is considered when producers can quickly supply more or less of it based on changing prices.: elastic; A good is considered when producers cannot quickly change how much of it is supplied when prices change.: inelastic

The Law of Supply

A good is considered [___] when producers can quickly supply more or less of it based on changing prices.

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