Economics Multiple Choice Question – 12 July 2018

Short-run supply is usually ________ elastic than momentary supply and ________ elastic than long-run supply?

Select ONE answer:

1. less; more
2. more; more 
3. more; less
4. less; less

Explain how changes in the costs of production may cause a shift in the supply curve:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This is multiple choice question is suitable for Economics KS5 classes.

The answer is 3

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