Goods that are considered to be needs tend to be elastic when the price changes. inelastic when the price changes. elastic when the supply changes. inelastic when the supply changes.

Computing equivalent units is especially important for: (a) goods that take a relatively short time to produce, such as plastic bottles. (b) goods with sustainability implications in their production processes. (c) goods that are started and completed during the same period. (d) goods that take a long time to produce, such as airplanes.