If the Quantity Supplied and the Price Change by the Same

question 40

Multiple Choice

If the quantity supplied and the price change by the same percentage, then supply is

• A) elastic.
• B) perfectly inelastic.
• C) unit elastic.
• D) perfectly elastic.
• E) inelastic.

---

Definitions:

Subagent

A person authorized by an agent to perform tasks or duties on behalf of the agent's principal.

Delegate Duties

The act of assigning specific responsibilities or tasks from one person to another, often in a workplace or organizational setting.

Agency Termination

The act of ending the relationship between an agent and their principal, which can occur through mutual agreement, fulfillment of the agency's purpose, or other legal means.

Apparent Authority

The appearance or assumption of authority based on the actions or statements of the principal, which leads a third party to believe that an agent has authority to act.