If the Price Elasticity of Supply for a Good Is

Multiple Choice

If the price elasticity of supply for a good is 0.75,then

A) the percentage change in the quantity supplied is less than the percentage change in price.
B) the supply is elastic.
C) an increase in the price boosts the quantity supplied by a larger percentage.
D) the supply is inelastic so the demand must also be inelastic.
E) None of the above answers is correct.