If the Price of a Good Increases by 10 Per

question 88

Multiple Choice

If the price of a good increases by 10 per cent and the quantity supplied increases by 5 per cent, then the elasticity of supply is

• A) negative and supply is inelastic.
• B) less than one and supply is inelastic.
• C) greater than one and supply is elastic.
• D) less than one and supply is elastic.
• E) greater than one and supply is inelastic.

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