The Price Elasticity of Supply Measures How Much

question 159

Multiple Choice

The price elasticity of supply measures how much

• A)the quantity supplied responds to changes in input prices.
• B)the quantity supplied responds to changes in the price of the good.
• C)the price of the good responds to changes in supply.
• D)sellers respond to changes in technology.

---

Definitions:

Brass Section

A subsection within a band or an orchestra comprised of brass instruments such as trumpets, trombones, French horns, and sometimes tubas.

Induction

Induction is a method of reasoning that involves drawing general conclusions from specific observations or instances.

Deduction

The process of reasoning from one or more general premises to reach a logically certain conclusion.

Analogy

A comparison between two things, typically for the purpose of explanation or clarification.