The Elasticity of Supply Is a Units-Free Measure of the Responsiveness

question 74

Multiple Choice

The elasticity of supply is a units-free measure of the responsiveness of the

• A)quantity demanded to a change in supply.
• B)quantity supplied to a change in demand.
• C)quantity supplied to a change in price.
• D)price of one good to a change in the quantity supplied of a second good.
• E)quantity supplied of one good to a change in the price of another good.

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Definitions:

Sand

Fine particles of rock and mineral matter, typically found on beaches, deserts, and riverbeds.

Paleozoic Era

That part of geologic time extending from roughly 541 million to 252 million years ago; divided into six periods: Cambrian (appearance of many new animal groups, the Cambrian radiation or Cambrian explosion); Ordovician (diversification of sea life); Silurian (appearance of jawed fishes, terrestrial plants, and air-breathing animals); Devonian (appearance of sharks and bony fishes); Carboniferous (great.

Silurian Period

A geologic time period that occurred roughly 443.8 to 419.2 million years ago, characterized by significant biological diversity and the early development of terrestrial ecosystems.

Ediacaran Period

The last (most recent) period of the Proterozoic eon, from 635 million to 541 million years ago; named for early animal fossils found in the Ediacara Hills in South Australia.