Which of the Following Represents a Price Elastic Supply

question 189

Multiple Choice

Which of the following represents a price elastic supply?

• A) The quantity demanded increases 18 percent as a result of a decrease in the price of 8 percent.
• B) The price rises by 8 percent causing the quantity demanded to fall by 10 percent.
• C) The quantity supplied increases by 21 percent as a result of an increase in the price of 12 percent.
• D) The price rises by 22 percent causing the quantity supplied to increase by 3 percent.

---

Definitions:

Words

The basic units of language comprised of sounds or written characters that convey meaning.

Actions

The fact or process of doing something, typically to achieve an aim.

Developmental Theory

A framework for understanding how and why people change over the course of life, particularly from infancy through adulthood.

Social Time Clock

refers to societal expectations or norms regarding the timing of life events and milestones, such as education, marriage, and retirement.