If a 23 Percent Change in Price Results in a 21

question 196

Multiple Choice

If a 23 percent change in price results in a 21 percent change in quantity supplied, then the price elasticity of supply is about

• A)1.10, and supply is elastic.
• B)1.10, and supply is inelastic.
• C)0.91, and supply is inelastic.
• D)0.91, and supply is elastic.

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