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Suppose a Producer Decides That If the Price of His

Question 26

Multiple Choice

Suppose a producer decides that if the price of his or her product is $10, the quantity supplied will be 1,000 units, and if the price is $11, the quantity supplied will be 1,100. The supply of the good is


A) elastic.
B) inelastic.
C) perfectly elastic.
D) unit elastic.
E) perfectly inelastic.

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