If the price of a good doubles and quantity supplied triples, then
a. demand is elastic
b. demand is inelastic
c. supply is inelastic
d. supply is elastic
e. there is insufficient information to reach any conclusion about the price elasticity of supply
D
Economics
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A decrease in the price of a firm's output
A) raises the value of marginal product of each unit of labor. B) shifts the firm's demand for labor curve rightward. C) results in the firm increasing the amount of output it produces. D) None of the above is correct.
Economics
A mixed strategy is most useful:
A. in simultaneous games. B. only when the outcome is random. C. in both sequential and simultaneous games. D. in sequential games.
Economics