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Ceteris Paribus, If an 8% Increase in Price Leads to a 6

Question 243

Multiple Choice

Ceteris paribus, if an 8% increase in price leads to a 6% increase in the quantity supplied, then:


A) supply is elastic.
B) supply is unit elastic.
C) supply is inelastic.
D) the supply curve is perfectly vertical.
E) the supply curve is perfectly horizontal.

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