When the percentage change in the quantity supplied is less than the percentage change in price, the supply is
A) elastic.
B) inelastic.
C) unit elastic.
D) perfectly unit elastic.
E) perfectly elastic.
B
Economics
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Keynes believed that unstable investment caused the Great Depression. Using the simple Keynesian model, explain how a fall in investment affects equilibrium output
What will be an ideal response?
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Working with the life-cycle hypothesis, we find in a cross-section study of consumption that as income rises there is a growing proportion of ________ people and thus a ________ saving ratio
A) retired, rising B) retired, falling C) working, rising D) working, falling
Economics