Multiple Choice
Long-run elasticity of supply is defined as
A) percentage change in quantity demanded in the long run divided by percentage change in price.
B) percentage change in price divided by percentage change in quantity demanded in the long run.
C) percentage change in quantity supplied in the long run divided by percentage change in price
D) percentage change in price divided by percentage change in quantity demanded in the long run
Correct Answer:
Verified
Correct Answer:
Verified
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