Which of the Following Statements About the Price Elasticity of Supply

question 90

Multiple Choice

Which of the following statements about the price elasticity of supply for slaves is correct?

• A) When the supply curve is more elastic every slave bought by the redeemers is one fewer slave held in captivity.
• B) When the supply curve is perfectly inelastic every slave bought by the redeemers is one fewer slave held in captivity.
• C) When the supply curve is less elastic every slave bought by the redeemers is one additional enslaved person.
• D) When the supply curve is more inelastic every slave bought by the redeemers is one additional enslaved person.

---

Definitions:

Expense Accounts

Accounts used to track money spent or costs incurred in a company's operation to generate revenue.

Year-End Closing Process

The series of steps taken to close out business accounts at the end of the fiscal year, preparing the books for the next fiscal period.

Fees Earned

Income generated from providing services, regarded as a revenue for the entity performing the service.

Rent Revenue

Earnings from property that is leased to others for use.