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.
D
Economics
You might also like to view...
A ________ strategy is when a player chooses a different strategy time after time
Fill in the blank(s) with correct word
Economics
An increase in demand for a good can be caused by
A) a decrease in the price of a substitute good. B) a reduction in income if the good is a normal good. C) a decrease in the price of a complementary good. D) an increase in price of a complementary good.
Economics