Solved

If a Good's Price Increases by 2 Percent, Then Its

Question 337

Multiple Choice

If a good's price increases by 2 percent, then its quantity supplied increases by more than 2 percent. This means

A) supply is elastic.
B) supply is unit-elastic.
C) supply is inelastic.
D) the good has good substitutes.

Related Questions

Q332: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5018/.jpg" alt=" -Refer to the

Q333: The local baseball stadium's concession stands previously

Q334: If demand is elastic and the price

Q335: A measure of the responsiveness of demand

Q336: When a household spends over 70% of

Q338: If the price of gasoline goes up

Q339: We expect the price elasticity of supply

Q340: The less sensitive buyers are to a

Q341: If the price of gasoline increased by

Q342: If total revenues rise when the market