If the Percentage Change in Quantity Supplied Is Greater Than

question 112

True/False

If the percentage change in quantity supplied is greater than the percentage change in price, then supply is elastic.

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Definitions:

Natural Liberty

A philosophical concept referring to the freedom from artificial constraints and the ability to act according to one's own will and reason in the pursuit of happiness and well-being.

Roger Williams

A Puritan minister, theologian, and founder of the colony of Rhode Island, he is known for his advocacy for religious freedom and separation of church and state in the early 17th century.

Anne Hutchinson

A Puritan spiritual adviser, mother of 15, and an important participant in the Antinomian Controversy that shook the infant Massachusetts Bay Colony from 1636 to 1638.

Puritans

A religious group from England who sought to purify the Church of England and who established colonies in New England in the early 17th century.