When Economists Say the Price Elasticity of Supply Is Elastic

question 200

Multiple Choice

When economists say the price elasticity of supply is elastic, they mean that

• A) suppliers are willing to produce much larger amounts of their good.
• B) suppliers are willing to produce only a small amount more of their good.
• C) consumers are willing to purchase much larger quantities of the good.
• D) the change in quantity supplied is relatively small compared to the change in price.

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Definitions:

Childhood

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To reduce the strength, effectiveness, or intensity of something.

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Structural MRI

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