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:

Optimism

A mental attitude characterized by hope and confidence in success and a positive future.

Intellectual Stimulation

A leadership practice that encourages followers to think creatively and challenge existing assumptions.

Transformational Factor

An element that significantly influences or causes change in an individual, group, or organization, often leading to improved performance or development.

Inspirational Motivation

The ability of leaders to inspire and motivate followers to achieve higher levels of performance through a shared vision.