If a 40% Change in Price Results in a 25

question 508

Multiple Choice

If a 40% change in price results in a 25% change in quantity supplied, then the price elasticity of supply is about

• A) 0.63, and supply is elastic.
• B) 0.63, and supply is inelastic.
• C) 1.60, and supply is elastic.
• D) 1.60, and supply is inelastid.

---

Definitions:

Calibrating

The process of adjusting and setting the accuracy of a measuring instrument to ensure it meets its specified and intended use.

Balance Beam Scale

is a type of weighing scale that uses a balance beam to measure mass through a comparison of known weights.

Bladder Length

A measure of the physical dimension of the urinary bladder from base to apex.

Arm Circumference

A measurement around the arm, typically used in medical or fitness contexts to assess nutritional status or muscle mass.