The Elasticity of Supply of Product X Is Unitary If

question 14

Multiple Choice

The elasticity of supply of product X is unitary if the price of X rises by

• A)5 percent and quantity supplied rises by 7 percent.
• B)8 percent and quantity supplied rises by 8 percent.
• C)10 percent and quantity supplied stays the same.
• D)7 percent and quantity supplied rises by 5 percent.

Understand the theoretical and practical aspects of entrepreneurship, including factors affecting business success and failure.

Gain insights into the characteristics and roles of entrepreneurs within the economy.

Learn the definition and scope of small business and explore career opportunities within this sector.

Recognize the skills and attitudes entrepreneurs need, such as risk tolerance and ability to handle ambiguity.

---

Definitions:

Berlin Blockade

A Soviet attempt from 1948 to 1949 to isolate West Berlin by cutting off all land access and forcing the Western Allies to supply the city via air.

Soviet Nuclear Bomb

The Soviet nuclear bomb refers to the atomic weapons developed by the Soviet Union since 1949, marking the start of the nuclear arms race during the Cold War.

South Korea

A country in East Asia, located on the southern half of the Korean Peninsula, known for its advanced technology and vibrant culture.

Member-Nations

Countries that are part of an international organization or coalition, agreeing to adhere to its rules and participate in its activities.