Suppose That the Value of the Supply Elasticity of a Product

Multiple Choice

Suppose that the value of the supply elasticity of a product is 2 and its price decreases by 14%.What will happen to the quantity supplied?

A) It will increase by 7%.
B) It will increase by 28%.
C) It will decrease by 7%.
D) It will decrease by 28%.
E) It cannot be determined without further information.