alleryMatch spare plant: 1. Spare: p. Unused 2. Response: q. Rapid 3. PES: r. Elastic
A1-p, 2-q, 3-r
B1-p, 2-r, 3-q
C1-q, 2-p, 3-r
D1-r, 2-p, 3-q
Answer & Solution
Correct answer: A. 1-p, 2-q, 3-r
Producers with spare production capacity can ramp up output quickly when prices rise, making supply price elastic.
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