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:

Aromatic

A class of hydrocarbons that contain one or more benzene rings in their molecular structure, known for their stability and fragrant properties.

Antiaromatic

Compounds that possess conjugated pi electron systems and are less stable due to their ring structure not fulfilling Hückel's rule for aromatic stability.

Nonaromatic

Compounds that are neither aromatic nor antiaromatic; they do not have delocalized pi electrons in a cyclic, conjugated system.

Anthracene

An aromatic hydrocarbon used in the production of dyes, explosives, and as a scintillator in detection devices.