menu-iconExamlexExamLexServices

Discover

Ask a Question
  1. All Topics
  2. Topic
    Business
  3. Study Set
    Principles of Microeconomics
  4. Exam
    Exam 5: Elasticity and Its Application
  5. Question
    If the Elasticity of Supply of a Product Is Greater
Solved

If the Elasticity of Supply of a Product Is Greater

Question 3

Question 3

Multiple Choice

If the elasticity of supply of a product is greater than 1,then what is supply


A) inelastic
B) elastic
C) unit elastic
D) not very sensitive to a change in price

Correct Answer:

verifed

Verified

Related Questions

Q1: When quantity demanded responds substantially to changes

Q2: In January,the price of widgets was $2.00

Q4: When the price of knee braces increased

Q5: What happens when demand is elastic in

Q6: Assume that a three percent increase in

Q7: What type of demand does a person

Q8: What does cross-price elasticity of demand measure<br>A)how

Q10: What does the price elasticity of demand

Q11: When the local used bookstore prices economics

Q56: A government program that reduces land under

Examlex

ExamLex

About UsContact UsPerks CenterHomeschoolingTest Prep

Work With Us

Campus RepresentativeInfluencers

Links

FaqPricingChrome Extension

Download The App

Get App StoreGet Google Play

Policies

Privacy PolicyTerms of ServiceHonor CodeCommunity Guidelines

Scan To Download

qr-code

Copyright © (2025) ExamLex LLC.

Privacy PolicyTerms Of ServiceHonor CodeCommunity Guidelines