Multiple Choice
If the quantity supplied of walkie-talkies increases by 5 percent when prices increase by 12 percent, then
A) the supply of walkie-talkies is inelastic.
B) the supply of walkie-talkies is elastic.
C) the walkie-talkie supply curve will shift to the right.
D) the walkie-talkie supply curve will shift to the left.
Correct Answer:
Verified
Correct Answer:
Verified
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