When Price Rises from $1

question 67

Multiple Choice

When price rises from $1.50 to $2.50, quantity supplied increases from 9,000 to 11,000 units. What is the price elasticity of supply?

• A)0.4
• B)0.8
• C)2.5
• D)4.0
• E)-0.4

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Definitions:

Demand Curves

A graphical representation showing the quantity of a good that consumers are willing and able to purchase at various price levels, holding other factors constant.

Stealth Bombers

Military aircraft designed to avoid detection using stealth technology, allowing them to penetrate enemy defenses and strike targets with high accuracy.