Multiple Choice
If the price elasticity of supply is 0.75, then when the price of Good Y falls by 10 percent, the quantity supplied of Good Y:
A) rises by 7.5 percent.
B) rises by 133 percent.
C) falls by 7.5 percent.
D) falls by 133 percent.
Correct Answer:
Verified
Correct Answer:
Verified
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