If the Price of Good Y Falls from $10 to $8

question 29

Multiple Choice

If the price of Good Y falls from $10 to $8, and the quantity supplied of it falls from 1,000 units to 600 units, the price elasticity of supply is:

• A) 2.67.
• B) -2.67.
• C) 2.25.
• D) -2.25.

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Definitions:

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