Multiple Choice
If price increases 6% and the quantity exchanged decreases 6%, what does that tell us about the elasticity of supply?
A) It tells us nothing about the elasticity of supply.
B) Supply is elastic.
C) Supply is inelastic.
D) Supply is unit elastic.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q50: When a tax is imposed on a
Q197: A 10% decrease in the price of
Q198: Price elasticity of supply is a measure
Q199: If the government wanted a tax to
Q200: If the demand is perfectly elastic, what
Q201: If price increases 6% and the quantity
Q203: The nation's largest cable TV company tested
Q204: Which of the following is not a
Q206: If the demand for apples is highly
Q207: If most passenger trains operate far below