If a Rise in the Price of Good a from $100

question 165

Multiple Choice

If a rise in the price of good A from $100 to $120 results in an increase in quantity supplied from 10,000 to 12,000 units, then the elasticity of supply is

• A)0.625.
• B)0.8.
• C)1.25.
• D)0.2.
• E)1.0.

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Definitions:

Expensive

Describing an item, service, or commodity that has a high cost or price.

Easily Stored

Describes items or substances that can be stored without difficulty, often due to their compact size or non-perishable nature.

Caloric Expenditure

This refers to the total number of calories a person burns or expends through various activities, including basic bodily functions and physical activities.

Physical Fitness

A state of health and well-being achieved through regular physical activity, involving various attributes such as endurance, strength, and flexibility.