If the Price Doubles and the Quantity Supplied Also Doubles,the

question 305

Multiple Choice

If the price doubles and the quantity supplied also doubles,the price elasticity of supply for the good is

• A) -1.
• B) 1.
• C) -2.
• D) 2.
• E) 100 percent.

---

Definitions:

Dramatically Slowed Down

A significant decrease in the pace or speed at which processes, developments, or activities occur.

Industrial Revolution

A period of major industrialization and technological innovation during the late 18th and early 19th centuries, leading to profound changes in society.

World Growth Rate

The annual percentage increase in the global gross domestic product (GDP), reflecting the overall health and economic activity of the world.

Industrial Revolution

marks the period of major industrialization that took place during the late 1700s and early 1800s, significantly transforming economies and societies through the adoption of new manufacturing processes and technologies.