If, for a Given Percentage Increase in Price, Quantity Supplied

question 67

Multiple Choice

If, for a given percentage increase in price, quantity supplied increases by a proportionately larger percentage, then supply is

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

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Definitions:

Retriever

In a context of data management or networking, a retriever is a mechanism or tool that fetches or extracts required data from a database or from across the internet.

Derived Class

A class in object-oriented programming that is created by inheriting properties and methods from another class.

Composition

In object-oriented programming, composition is a design principle where a class references one or more objects of other classes in instance variables, thus representing a "has-a" relationship.

"Has-a" Relationship

In object-oriented programming, it indicates that an object of one class contains or encapsulates objects of another class.