Arnie Recently Purchased the Mill Town Square Mall in Philadelphia

Multiple Choice

Arnie recently purchased the Mill Town Square Mall in Philadelphia. Attempting to explain the elasticity of supply to shop owners in the mall, he tells them that the price elasticity of supply measures:

A) the responsiveness of supply to changes in technology.
B) the responsiveness of supply to changes in input prices.
C) the responsiveness of quantity supplied to changes in price.
D) the response of supply to changes in technology and changes in price.