If the Price of Milk Increased by 5 Percent Because

question 3

Multiple Choice

If the price of milk increased by 5 percent because of an increase in the demand for milk, and the quantity of milk supplied increased by 7 percent

• A) the supply curve of milk has shifted rightward.
• B) the price elasticity of supply of milk is greater than one.
• C) milk is more of a luxury than a necessity.
• D) milk is more of a necessity than a luxury.

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Definitions:

Coaxial

Referring to a type of cable that consists of a central conductor surrounded by a shielded, insulating layer and used for transmitting electrical or signal frequencies.

Device Manager

A Windows utility that allows users to view and control the hardware attached to the computer, including troubleshooting hardware issues.

Network

A group of interconnected computers, devices, or systems that share resources and information.

Hardware

Any part of a computer or computer system you can physically touch.