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:

Hybrid System

A combination of different technologies, methodologies, or systems that integrate to function together, often bringing together the best features of each.

Closed

This term could refer to an entity, system, or status that is not open for operation, participation, or access by the public or specific groups.

Open

Available to all, not restricted or exclusive, often used in the context of data or software that can be freely accessed and modified.

Unilateral

Describes actions, decisions, or obligations imposed or undertaken by one party without the consent or cooperation of others.