When the Percentage Change in the Quantity Supplied Equals the Percentage

question 38

Multiple Choice

When the percentage change in the quantity supplied equals the percentage change in price,the supply is

• A) elastic.
• B) inelastic.
• C) unit elastic.
• D) perfectly elastic.
• E) perfectly inelastic.

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Definitions:

Entire Economy

All the economic activities and interactions that take place within a country, including production, consumption, investment, and trade.

Individual Stock

A share representing ownership in a specific company, entitling the holder to a claim on part of the company’s assets and earnings.

Bond Owners

Individuals or entities that hold bonds, which are debt securities, issued by corporations or governments.