Multiple Choice
If the price of a product decreased from $11 to $9 and the quantity supplied decreased from 61 to 59 units, the supply is said to be:
A) inelastic.
B) unitary elastic.
C) perfectly elastic.
D) elastic.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q26: The coefficient of price elasticity of demand
Q27: If beef and pork are substitutes for
Q28: If a 20 percent increase in the
Q29: If the quantity supplied of a product
Q30: When we say that there has been
Q32: A shift to the right in the
Q33: Which of the following will increase a
Q34: When we refer to an increase in
Q35: The term equilibrium in market analysis means:<br>A)
Q36: If the price of a product increases