Multiple Choice
The price elasticity of supply measures
A) the percentage change in supply from a percentage change in demand.
B) the extent to which the quantity supplied of a good changes when the price of a good changes, other things remaining the same.
C) the slope of the supply curve.
D) how the equilibrium price changes in response to a change in the equilibrium quantity supplied.
E) Both answers B and C are correct.
Correct Answer:
Verified
Correct Answer:
Verified
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