Supply Is Unit Elastic When the

question 205

Multiple Choice

Supply is unit elastic when the

• A) supply curve is upward sloping.
• B) price elasticity of supply is positive.
• C) percentage change in the quantity supplied equals the percentage change in price.
• D) supply curve is horizontal.
• E) supply curve is vertical.

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Definitions:

Confidence Interval

A collection of values, derived from the analysis of sample data, that is expected to cover the value of an unknown population quality.

Standard Error

A measure of the accuracy with which a sample distribution represents a population by using the standard deviation of the sample.

Confidence Interval

A set of numbers, taken from sample-based statistics, that is probable to contain the estimated value of an unspecified population parameter.

Population Standard Deviation

A measure of the spread or dispersion of a set of data points in a population.