If the Percentage Change in Quantity Supplied Is 0% and the Percentage

question 69

Multiple Choice

If the percentage change in quantity supplied is 0% and the percentage change in price is 10% then the supply for the good is

• A)elastic.
• B)inelastic.
• C)unit elastic.
• D)perfectly inelastic.

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Definitions:

Accounts Receivable

Dues from clients to a corporation for goods or services already benefited from but yet to be paid for.

Debit Entries

Accounting records that increase an asset or expense account, or decrease a liability, equity, or revenue account.

Credit Entries

Accounting entries that increase liability or equity accounts or decrease asset or expense accounts.

Cash Account

An account recording all transactions involving cash inflows and outflows.