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If the Price of a A Good Increases by 10

Question 150

Multiple Choice

If the price of a a good increases by 10 percent and the quantity supplied increases by 5 percent,then the elasticity of supply is


A) greater than one and supply is elastic.
B) negative and supply is inelastic.
C) less than one and supply is elastic.
D) less than one and supply is inelastic.
E) greater than one and supply is inelastic.

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