If a 20% Change in Price Results in a 15

question 73

Multiple Choice

If a 20% change in price results in a 15% change in quantity supplied,then the price elasticity of supply is about

• A)1.33,and supply is elastic.
• B)1.33,and supply is inelastic.
• C)0.75,and supply is elastic.
• D)0.75,and supply is inelastic.

---

Definitions:

Goodness Of Fit

The compatibility between an individual's temperament and the demands or expectations of their environment.

Self-concept

Self-concept is an individual's perception of self, encompassing beliefs, feelings, and thoughts about one's abilities, values, and uniqueness.

Infants

Young babies, especially those in the first year of life, who are in the initial stages of physical and cognitive development and require significant care and nurturing.

Broca's Aphasia

A condition resulting from damage to a specific area of the frontal lobe of the brain, leading to difficulty in producing coherent speech or language while understanding may remain relatively intact.