Multiple Choice
The elasticity of supply measures:
A) how responsive price is to a change in the quantity supplied of a good or service.
B) how much value suppliers place on each unit of the good or service.
C) the rate of change of supply in relation to demand.
D) how responsive the quantity supplied is to a change in the price of a good or service.
Correct Answer:
Verified
Correct Answer:
Verified
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