If a 20% Change in Price Results in a 15

question 73

Multiple Choice

If a 20% change in price results in a 15% change in quantity supplied,then the price elasticity of supply is about

• A)1.33,and supply is elastic.
• B)1.33,and supply is inelastic.
• C)0.75,and supply is elastic.
• D)0.75,and supply is inelastic.

---

Definitions:

Impersonal

Lacking personal feeling or attachment; not influenced by, showing, or involving personal feelings.

Reduces Resistance

The act of minimizing opposition or reluctance, often in the context of implementing changes or new ideas.

European Walking Tours

Guided or self-guided tours exploring various European destinations on foot, offering cultural, historical, and scenic experiences.

Safest

Having the highest degree of protection from risks, harm, or any dangerous situations.