If the Price Elasticity of Supply for a Good Is

question 146

Multiple Choice

If the price elasticity of supply for a good is 0.75,then

• A) the percentage change in the quantity supplied is less than the percentage change in price.
• B) the supply is elastic.
• C) an increase in the price boosts the quantity supplied by a larger percentage.
• D) the supply is inelastic so the demand must also be inelastic.
• E) None of the above answers is correct.

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Definitions:

AVERAGE Function

A function in spreadsheet programs that calculates the mean value of a range of cells, providing a summary statistic of the data set.

Proofing Group

Tools in software applications used for reviewing and correcting text, including spell check and grammar check.

Format Cells Dialog

A feature in spreadsheet software that allows users to change the appearance of cells, including their borders, colors, and number formatting.

Column Width

The horizontal measurement of a column in a table or spreadsheet, affecting how much content can be displayed within it.