If the Price Elasticity of Supply Is 1

question 85

Multiple Choice

If the price elasticity of supply is 1.2,and price increased by 5%,quantity supplied would

• A)increase by 4.2%.
• B)increase by 6%.
• C)decrease by 4.2%.
• D)decrease by 6%.

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Definitions:

Stockholders

Individuals or entities that own shares in a corporation, giving them ownership interest in the company.

Millions

A numerical term referring to a count or value in the millions, often used in financial contexts to indicate quantities or sums.

Operating Cash Flow

An assessment of the cash income resulting from a company's standard operational processes.

Millions

A numerical term representing one thousand thousands, or 1,000,000.