Multiple Choice
If the price elasticity of supply is 4, an increase in the price of Good X by 5 percent causes the quantity supplied of it to:
A) rise 20 percent.
B) fall 20 percent.
C) rise 1.25 percent.
D) fall 1.25 percent.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q200: Which of the following statements about the
Q201: Which of the following factors causes a
Q202: If the income elasticity of demand of
Q203: If the price of gasoline in this
Q204: The elasticity of supply measures:<br>A) how quickly
Q206: Figure: Elasticity of Swim Trunks <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB3377/.jpg"
Q207: If the cross-price elasticity of demand of
Q208: Which statement about the computer chip market
Q209: When a shift in demand or supply
Q210: The demand for necessary goods tends to