The Price Elasticity of Supply Is Usually a Positive Number

question 111

Multiple Choice

The price elasticity of supply is usually a positive number because:

• A)quantity supplied increases in response to income increases.
• B)quantity supplied increases in response to price increases.
• C)the quantity demanded usually rises when price falls, and therefore suppliers would want to capitalise on this increase in demand.
• D)price rises when supply increases.

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Definitions:

Separate Measurement

The process of individually assessing various components or aspects of a system, entity, or performance.

Performance Standards

Criteria set to measure how well tasks and duties are executed, acting as a guideline for the expected level of performance.

Occupational Pro Forma

A document or statement projecting the future financial performance or expected outcomes of a particular job or occupation.

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Actions that unlawfully treat individuals or groups unfavorably based on their personal characteristics, such as race, gender, or age, with deliberate intent.