If the Elasticity of Supply Is 4, a 10 Per

question 109

Multiple Choice

If the elasticity of supply is 4, a 10 per cent increase in the price of a good leads to a

• A) 4 per cent decrease in the quantity demanded.
• B) 2.5 per cent increase in the quantity supplied.
• C) 40 per cent increase in the quantity supplied.
• D) 2.5 per cent decrease in the quantity demanded.

---

Definitions:

Retirement

The act of leaving one's job and ceasing to work, typically upon reaching a certain age or for health reasons.

Nursing Services

Healthcare services provided by licensed nurses, including clinical care, education, and support for patients.

Baccalaureate Degree

An undergraduate academic degree awarded by colleges and universities upon completion of a course of study lasting three to seven years (depending on institution and academic discipline).

Nursing Practice

The profession or practice of providing care for the sick and infirm, including a wide range of healthcare actions.