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 inelastij h *wd8i3r:zaph,xo5cmm-d os +3bna9 supply 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 number of substitutes for9 ns/eh1xn:p 57bnnfv oil relates to PED, not PES
Choice II is correct: 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 prod7 p9nsb xf:neh /1nv5nuct being a necessity relates to PED, not PES
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