Refer to the Accompanying Figure

question 52

Multiple Choice

Refer to the accompanying figure. What is the price elasticity of supply at point B and point C?

• A)1/2; 3/4
• B)3/4; 1/2
• C)3; 2
• D)1; 1

---

Definitions:

Cost Benefit Analysis

Cost benefit analysis is a systematic approach for calculating and comparing the benefits and costs of a project, decision, or policy, helping stakeholders make informed choices by quantifying outcomes in monetary terms.

Similar Products

Goods or services that serve the same purpose or function and are comparable in quality or performance.

DALY

Disability-Adjusted Life Year, a measure used in public health to quantify the burden of disease, considering both years lived with disability and years of life lost due to premature mortality.

Premature Death

The occurrence of death before the expected lifespan, often due to factors like disease, accidents, or violence.