Examlex
Which of the following is true?
i.The supply of a good is inelastic if when its price changes,the percentage change in the quantity supplied exceeds the percentage change in price.
ii.Price elasticity of supply equals the percentage change in the quantity supplied divided by the percentage change in price.
iii.If demand is price elastic,a rise in price leads to a decrease in total revenue.
Q64: Which of the following is true? When
Q152: In the figure above,the total revenue from
Q202: Suppose that the government imposes a price
Q220: Marginal benefit curves<br>A) have positive slopes.<br>B) have
Q232: The above figure shows the market for
Q239: If consumers buy a large number of
Q247: If the price of a DVD falls
Q286: If the quantity supplied and the price
Q310: In the summer of 2008,the price of
Q324: Which of the following is necessary for