The Price Elasticity of Supply Is Always a Positive Value

question 272

Multiple Choice

The price elasticity of supply is always a positive value because
i.there is a direct relationship between the price and the quantity supplied.
ii.as the equilibrium price increases,the equilibrium quantity also always increases.
iii.buyers are willing to pay a higher price for larger quantities.

• A) i only
• B) ii only
• C) iii only
• D) i and ii
• E) ii and iii

---

Definitions:

Expressive Role

A social role that focuses on emotional, supportive, and nurturing behavior, typically associated with maintaining relationships and the social cohesion of groups.

Immediate Development

pertains to rapid progress or improvement in conditions or capabilities, occurring without significant delay.

Economic Union

refers to an agreement between countries that allows for the free movement of goods, services, and people, and coordinates economic policies.

Socially Approved

Actions or behaviors that are accepted and encouraged by the majority within a society or social group.