The key factor that determines whether the supply of a good will be elastic or inelastic is consumption output level time price

The correct answer is time

Whether a company is elastic or inelastic depends on how much time it needs to change the amount of supply of a good. Supply is inelastic if the company can't change the supply in the short run, but is elastic if they can. It is described as a proportionate change in one thing as the other thing is reduced, in this case the supply and time.

Words that give you hints

Explanation:

These are some examples of the signal words that can help you to understand them more properly: For this reason, however, meanwhile, because...

These signal words can help you to take better notes because they can point to the facts that are important for understanding sentences or some facts. After them, we can always see the explanation of the previous. They point to the main ideas and concrete explanations.

Signal words give you hints about what you can expect next when you are reading something or when you are taking the notes and whenever you read notes or some sentence again you will know when the explanation is, which is after the signal words.