If a 15% Change in Price Results in a 20

question 34

Multiple Choice

If a 15% change in price results in a 20% change in quantity supplied,then the price elasticity of supply is about

• A)1.33,and supply is elastic.
• B)1.33,and supply is inelastic.
• C)0.75,and supply is elastic.
• D)0.75,and supply is inelastic.