Multiple Choice
If a supply curve for a good is price elastic, then
A) the quantity supplied is sensitive to changes in the price of that good.
B) the quantity demanded is insensitive to changes in the price of that good.
C) the quantity demanded is sensitive to changes in the price of that good.
D) the quantity supplied is insensitive to changes in the price of that good.
Correct Answer:
Verified
Correct Answer:
Verified
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