Ceteris Paribus, If a 4% Increase in Price Leads to a 6

question 49

Multiple Choice

Ceteris paribus, if a 4% increase in price leads to a 6% increase in the quantity supplied, then:

• A)​supply is elastic.
• B)​supply is unit elastic.
• C)​supply is inelastic.
• D)​the supply curve is perfectly vertical.

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