If a 15% Change in Price Results in a 20

question 160

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 inelastid.

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Definitions:

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