The Price Elasticity of Supply Measures How

question 306

Multiple Choice

The price elasticity of supply measures how

• A)easily labor and capital can be substituted for one another in the production process.
• B)responsive the quantity supplied of X is to changes in the price of X.
• C)responsive the quantity supplied of Y is to changes in the price of X.
• D)responsive quantity supplied is to a change in incomes.

---

Definitions:

Sensory Receptor

Specialized cells or groups of cells that detect and respond to environmental stimuli, such as light, sound, or touch.

Hard Consonant

A consonant sound produced with a high degree of constriction in the vocal tract, often leading to a more pronounced or forceful articulation.

Melodic

Relating to melody; having pleasing musical sounds or tunes.

Absolute Threshold

The minimum intensity level of a stimulus that a person can detect at least 50% of the time.