Multiple Choice
If the quantity supplied responds only slightly to changes in price,then
A) supply is said to be elastic.
B) supply is said to be inelastic.
C) an increase in price will not shift the supply curve very much.
D) even a large decrease in demand will change the equilibrium price only slightly.
Correct Answer:
Verified
Correct Answer:
Verified
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Q33: Figure 5-15 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB2297/.jpg" alt="Figure 5-15
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Q36: Figure 5-17 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB2297/.jpg" alt="Figure 5-17