If a 30 Percent Change in Price Causes a 15

question 25

Multiple Choice

If a 30 percent change in price causes a 15 percent change in quantity supplied,then the price elasticity of supply is about

• A)0.5,and supply is elastic.
• B)0.5,and supply is inelastic.
• C)2,and supply is inelastic.
• D)2,and supply is elastic.

---

Definitions:

Disequilibrium

A state of imbalance or instability due to a mismatch between the demand and supply in a market or in physiological contexts, the body's inability to maintain homeostasis.

Reflexes

Involuntary and automatic responses of the body to a stimulus.

Accommodation

In cognitive development, this refers to the process by which individuals adjust their schemas (mental models) to incorporate new experiences.

Preexisting Idea

A concept or belief that exists before a particular event, study, or project.