Multiple Choice
If a rise in the price of good A from $9 to $11 results in an increase from 9,500 to 10,500 units supplied, then
A) supply is elastic.
B) supply is inelastic.
C) supply is unit elastic.
D) demand is elastic.
E) supply is perfectly inelastic.
Correct Answer:
Verified
Correct Answer:
Verified
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