If a 30 Percent Change in Price Causes a 10

question 172

Multiple Choice

If a 30 percent change in price causes a 10 percent change in quantity supplied,what do we know about the price elasticity of supply

• A)It is 1/3 and supply is elastic.
• B)It is 1/3 and supply is inelastic.
• C)It is 1 and supply is unit elastic.
• D)It is 3 and supply is elastic.

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