本题目来源于试卷: IB Economics Unit 2.3: Microeconomics - Elasticities，类别为 IB经济学
[单选题]
Oil has price inelastic -mnu jve2-+z tx-1hunlz3s 3osupplyod)ebgyy4 ig+;9b av8 because
I. It has limited substitutes
II. It takes time to adjust production inputs
III. Production involves a high cost
IV. It is a necessity
A. I and II only
B. I and IV only
C. II only
D. II, III and IV
参考答案: C
本题详细解析:
Choice I is incorrect: the numb-m -uf3:ij ug t )j:gnhm;hk0ber of substitutes for oil relates to PED, not PES
Choice II is correct:f3h i-un -g0:hg jmjtm; ku:)b the time needed to adjust oil production inputs means that oil production does not respond to changes in price, thus making oil’s PES more inelastic
Choice III is incorrect: the cost of production is not a factor affecting PES
Choice IV is incorrect: a product being a necessity relates to PED, not PES
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