The Price Elasticity of Supply Is Usually a Positive Number

question 92

Multiple Choice

The price elasticity of supply is usually a positive number because

• A)quantity supplied increases in response to income increases.
• B)quantity supplied increases in response to price increases.
• C)the quantity demanded usually rises when price falls and therefore suppliers would want to capitalize on this increase in demand.
• D)price rises when supply increases.

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Definitions:

Gaseous System

A state of matter composed of particles that have neither a defined volume nor shape, often able to expand to fill any container.

Temperature

The average kinetic energy of particles within a substance, which shows the temperature level, defining its heat or coldness.

Mass Spectroscopy

An analytical technique that measures the mass-to-charge ratio of ions to identify and quantify molecules in a sample.

Magnetic Field

A vector field that describes the magnetic influence on moving electric charges, electric currents, and magnetic materials.