The Elasticity of Supply of Product X Is Unitary If

Multiple Choice

The elasticity of supply of product X is unitary if the price of X rises by

A) 5 percent and quantity supplied rises by 7 percent.
B) 8 percent and quantity supplied rises by 8 percent.
C) 10 percent and quantity supplied stays the same.
D) 7 percent and quantity supplied rises by 5 percent.