Figure: Price Elasticity of Supply Refer to the Figure

question 247

Multiple Choice

Figure: Price Elasticity of Supply Refer to the figure. Compared to S₁, S₂ is more:

• A) elastic since quantity supplied increases more with an increase in price.
• B) elastic since quantity supplied increases less with an increase in price.
• C) inelastic since quantity supplied increases more with an increase in price.
• D) inelastic since quantity supplied increases less with an increase in price.

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