If the Price Elasticity of Supply for a Good Is

Multiple Choice

If the price elasticity of supply for a good is 0.75, then

A) the supply is elastic.
B) the supply is inelastic so the demand must also be inelastic.
C) an increase in the price boosts the quantity supplied by a larger percentage.
D) the percentage change in the quantity supplied is less than the percentage change in price.
E) None of the above answers is correct.