Which of the Following Statements About the Price Elasticity of Supply

question 200

Multiple Choice

Which of the following statements about the price elasticity of supply in the Sudanese slave trade is correct?

• A) When the supply curve is more elastic, every slave bought by the redeemers is one fewer slave held in captivity.
• B) When the supply curve is perfectly inelastic, every slave bought by the redeemers is one fewer slave held in captivity.
• C) When the supply curve is less elastic, every slave bought by the redeemers is one additional enslaved person.
• D) When the supply curve is more inelastic, every slave bought by the redeemers is one additional enslaved person.

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Definitions:

Common Shares Outstanding

The total number of shares of a company that are owned by shareholders, excluding shares owned by the company itself.

Treasury Stock

Shares previously counted among a company's outstanding shares but were later bought back by the business.

Par Value

The nominal or face value of a bond, share of stock, or coupon as stated by the issuer.

Resold

A term referring to items that have been sold and then sold again, either by the original buyer or by another party.