Multiple Choice
If the price elasticity of supply is less than 1, then supply of the good is
A) elastic.
B) inelastic.
C) unitary elastic.
D) monetary elastic.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q266: Describe the time periods economists use to
Q267: When consumers are given more time to
Q268: In which period can firms decide to
Q269: A good is said to be highly
Q270: The availability of substitutes is one determinant
Q272: If the cross elasticity of demand between
Q273: Which of these is considered a primary
Q274: The price elasticity of supply is the
Q275: An inelastic demand curve will have an
Q276: In general, tax incidence falls more on