The elasticity of supply measures the sensitivity of
A) supply to changes in costs.
B) quantity supplied to quantity demanded.
C) quantity supplied to a change in price.
D) price to changes in supply.
C
Economics
You might also like to view...
Which of the following is true of sub-Saharan Africa?
a. The poverty rate in the region is low. b. The region has received more foreign aid than any other area of the world. c. Most of the countries in the region rank among the freest economies in the world. d. The poverty rate in the region is the lowest of any region in the world, and the rate has declined sharply during the past quarter of a century.
Economics
In order to maximize net benefits, firms should produce where:
A. profits are zero. B. total benefits equal total costs. C. marginal benefits equal marginal costs. D. marginal cost is minimized.
Economics