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If the Elasticity of Supply Is 4, a 10 Per

Question 109

Multiple Choice

If the elasticity of supply is 4, a 10 per cent increase in the price of a good leads to a


A) 4 per cent decrease in the quantity demanded.
B) 2.5 per cent increase in the quantity supplied.
C) 40 per cent increase in the quantity supplied.
D) 2.5 per cent decrease in the quantity demanded.

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