The Size of the Percentage Change in the Quantity Supplied

question 88

Multiple Choice

The size of the percentage change in the quantity supplied of a good or service when its price changes is called by one percent is called:

• A)price elasticity of supply.
• B)price elasticity of demand.
• C)cross-price elasticity.
• D)income elasticity of supply.

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Definitions:

Spending Variance

This is the difference between the actual amount spent on a budget item and its planned or budgeted amount.

Wages And Salaries

Compensation paid to employees for their work or services.

Planning Budget

A financial plan that estimates the revenue and expenses for a specific period in the future.

Births

The occurrence of being born; the start of life as a physically separate being.