Multiple Choice
If a 30 percent change in price causes a 15 percent change in quantity supplied,then the price elasticity of supply is about
A) 0.5,and supply is elastic.
B) 0.5,and supply is inelastic.
C) 2,and supply is inelastic.
D) 2,and supply is elastic.
Correct Answer:
Verified
Correct Answer:
Verified
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