Multiple Choice
An 18 percent increase in the price of small cars results in a 10 percent expansion in the quantity supplied. The supply elasticity in this range equals ________.
A) 9/5
B) 5/9
C) 7/10
D) 4/10
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q120: An inferior good has an income elasticity
Q202: When demand is unit elastic, a 10
Q203: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5013/.jpg" alt=" -In the above
Q206: A 2 percent increase in the price
Q208: If a good has an absolute price
Q210: A local transit authority charges $1 for
Q211: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5013/.jpg" alt=" -In the above
Q217: The price elasticity of supply is higher
Q319: A positive cross price elasticity of demand
Q395: An increase in total revenue will result