Multiple Choice
Supply is elastic if
A) a small percentage change in price results in a large percentage change in quantity supplied.
B) a large percentage change in price results in a small percentage change in quantity supplied.
C) a small percentage change in demand results in a large percentage change in quantity supplied.
D) the good is an inferior good.
E) the good is a normal good.
Correct Answer:
Verified
Correct Answer:
Verified
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