To calculate the price elasticity of supply, we divide
A) rise by the run.
B) the average price by the average quantity supplied.
C) the percentage change in price by the percentage change in quantity supplied.
D) the percentage change in quantity supplied by the percentage change in price.
D
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In order for Ethiopia to increase its future economic growth, it must choose a point that is:
a. below its production possibilities curve. b. further along on its production possibilities curve toward the capital goods axis. c. further along on its production possibilities curve toward the consumption goods axis. d. further along on its production possibilities curve away from the population axis. e. above its production possibilities curve.
Suppose a supplier has an agreement with a firm to be paid $50,000 in 4 years. If the annual interest rate is 1 percent, the supplier would be indifferent between receiving ________ now and waiting 4 years to receive the $50,000.
A) 49,557.89 B) $48,049.02 C) $49,550.22 D) $48,076.92