The Price Elasticity of Supply

question 227

Multiple Choice

The price elasticity of supply

• A) is the slope of the supply curve.
• B) is the percentage change in quantity supplied divided by the percentage change in price.
• C) is always negative.
• D) does not vary between the long and the short run.

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Definitions:

Product-Distribution

Product-distribution involves the process of making a product or service available for the consumer or business user that needs it, which can include warehousing, logistics, and retailing.

Geographic Region

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Franchisees

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Proven Product

A product that has been demonstrated to meet customer expectations and achieve market success through sales performance and customer acceptance.