When the Percentage Change in the Quantity Supplied Is Twice

question 281

Multiple Choice

When the percentage change in the quantity supplied is twice the percentage change in price,then supply is

• A) elastic.
• B) inelastic.
• C) unit elastic.
• D) perfectly inelastic.
• E) perfectly elastic.

---

Definitions:

Credit Terms

The conditions under which credit is extended by a lender to a borrower, including the repayment schedule, interest rate, and due date.

Invoice Price

The price indicated on an invoice, representing the amount to be paid by the buyer to the seller.

Perpetual Inventory System

A perpetual inventory system is a method of accounting for inventory that records the sale or purchase of inventory immediately through the use of computerized point-of-sale systems and enterprise asset management software.

Perpetual Inventory System

An inventory accounting system where updates are made continuously as transactions occur, reflecting the real-time quantity of inventory on hand.