If the Price Elasticity of Supply for a Good Is

question 66

Multiple Choice

If the price elasticity of supply for a good is 0.75, then

• A) the supply is elastic.
• B) the supply is inelastic so the demand must also be inelastic.
• C) an increase in the price boosts the quantity supplied by a larger percentage.
• D) the percentage change in the quantity supplied is less than the percentage change in price.
• E) None of the above answers is correct.

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