To Calculate the Price Elasticity of Supply, We Divide

question 152

Multiple Choice

To calculate the price elasticity of supply, we divide

• A)the percentage change in price by the percentage change in quantity supplied.
• B)the percentage change in quantity supplied by the percentage change in price.
• C)rise by the run.
• D)the average price by the average quantity supplied.

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Definitions:

Extraneous Solutions

Solutions that are found in the process of solving an equation but do not satisfy the original equation.

Extraneous Solutions

Solutions that emerge from the process of solving a problem but do not satisfy the original equation.

Extraneous Solutions

Answers that result from the equation-solving process but fail to meet the criteria of the initial equation.

Variation Terminology

Language and concepts used to describe how quantities change together.