Multiple Choice
Supply is inelastic if
A) a small percentage change in price results in a large percentage change in quantity supplied.
B) a large percentage change in price results in a small percentage change in quantity supplied.
C) the good is a normal good.
D) the good is an inferior good.
E) the good has many substitutes.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q2: If a 12 percent fall in price
Q35: Sally's Ski Shoppe maximizes total revenue when
Q37: If the price elasticity of demand is
Q102: Use the figure below to answer the
Q104: The price elasticity of demand for purses
Q105: If an increase in the supply of
Q106: Use the information below to answer the
Q109: If an increase in the supply of
Q111: Which one of the following must be
Q162: If a 10 percent increase in income