If the Price Elasticity of Supply Is 1

question 79

Multiple Choice

If the price elasticity of supply is 1.2,and a price increase led to a 5% increase in quantity supplied,then the price increase is about

• A)0.24%.
• B)4.2%.
• C)6%.
• D)6.2%.

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Definitions:

Aerobic Respiration

The metabolic process in which cells convert glucose and oxygen into energy, carbon dioxide, and water; it is the primary method of energy production in animals.

Acetyl CoA

A central molecule in metabolism that conveys the carbon atoms within the acetyl group to the tricarboxylic acid cycle to be oxidized for energy production.

NADH

Nicotinamide adenine dinucleotide (reduced form), a coenzyme involved in cellular respiration and energy production within cells.

Carbon Dioxide

This gas, which doesn't have color or smell, comes from the burning of organic and carbon materials and from breathing. It's found naturally in the air and is essential for the photosynthesis process in plants.