We Generally Expect the Price Elasticity of Supply to Be

question 175

Multiple Choice

We generally expect the price elasticity of supply to be

• A) zero.
• B) negative.
• C) positive.
• D) between -1 and +1.

---

Definitions:

Income

Money received, especially on a regular basis, for work or through investments.

Perfect Income Equality

A hypothetical situation where all individuals within an economy have the exact same income, eliminating income disparities.

Top Quintile

The highest fifth of a population in income or wealth distribution, representing those with the greatest share of income or wealth.

Income

Money received, especially on a regular basis, for work, through investments, or from business activities, used to fund day-to-day expenditures or save for the future.