The Percentage Change in the Quantity Supplied in Response to a Percentage

question 56

Multiple Choice

The percentage change in the quantity supplied in response to a percentage change in the price is known as the

• A) slope of the supply curve.
• B) excess supply.
• C) price elasticity of supply.
• D) All of the above.

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Definitions:

Net Capital Spending

The total spending on fixed assets minus the proceeds from the sale of fixed assets over a period.

Canadian GAAP

Generally Accepted Accounting Principles in Canada, a set of accounting standards for financial reporting by Canadian companies.

Fair Value Accounting

An accounting approach where companies measure and report the value of certain assets and liabilities on the basis of their actual or estimated fair market price.