Multiple Choice
The price elasticity of supply tells us:
A) the percentage change in quantity supplied when the price of the good changes by one percent.
B) in which direction the quantity supplied changes as we move along the supply curve.
C) how quickly supply will respond to a change in price.
D) the magnitude of a shift in the supply curve in response to a change in price.
Correct Answer:
Verified
Correct Answer:
Verified
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