Multiple Choice
Suppose an increase in world demand for potash (used in the production of fertilizer) increases the price by 22 percent.Annual Canadian production increases by 33 percent.What is the elasticity of supply of Canadian potash?
A) 0.22
B) 0.33
C) 0.67
D) 1.0
E) 1.5
Correct Answer:
Verified
Correct Answer:
Verified
Q104: Suppose that the quantity demanded of a
Q105: Rania is selling boxes of cookies door
Q106: Which of the following tends to be
Q107: The table below shows the demand schedule
Q108: If pizza and beer are complementary goods,we
Q110: Which of the following illustrates elastic demand?<br>A)A
Q111: The table below shows the demand schedule
Q112: Suppose a decrease in world demand for
Q113: Suppose the cross elasticity of demand between
Q114: The elasticity of supply for some product