Multiple Choice
If the price elasticity of supply is:
A) greater than 1, then the supply is price-elastic.
B) greater than 1, then the supply is price-inelastic.
C) zero, then the supply is price unit-elastic.
D) greater than 1, then the quantity supplied is relatively unresponsive to price changes.
Correct Answer:
Verified
Correct Answer:
Verified
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