If the Percentage Change in Price Is 20 and the Percentage

question 230

Multiple Choice

If the percentage change in price is 20 and the percentage change in quantity supplied is 10, supply is:

• A)unaffected by price changes.
• B)inelastic.
• C)unitary elastic.
• D)elastic.

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Definitions:

Negligence

Failure to take proper care in doing something, resulting in damage or injury to another.

Injured

Having suffered harm or damage, physically or emotionally.

Cause in Fact

A legal doctrine determining whether the defendant's actions are the actual cause of the plaintiff's damage or injury.

Product Liability Suit

A legal action taken against a manufacturer, distributor, or seller for producing or selling a defective product that caused harm to a consumer.