Suppose That the Value of the Price of a Product

question 131

Multiple Choice

Suppose that the value of the price of a product decreased from $2.10 to $1.90,and the quantity supplied decreased from 24 to 16.What is the value of supply elasticity?

• A)+ 0.25.
• B)- 0.25.
• C)+ 3.47.
• D)- 4.0.
• E)+ 4.0.

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Definitions:

Audience Benefits

An advantage or positive outcome that the audience gains from a presentation, product, or service.

World-Renowned Dishes

Culinary creations famous or recognized globally for their unique flavor, preparation, or cultural significance.

Steaks

Thick cuts of meat, typically beef, that are among the most popular and valued pieces for cooking and consumption.