If the price elasticity of supply is 1.2, and price increased by 5%, quantity supplied would
a. increase by 4.2%.
b. increase by 6%.
c. decrease by 4.2%.
d. decrease by 6%.
b
Economics
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An economy that has no interaction with the rest of the world is called
A) an isolated economy. B) a closed economy. C) a parochial economy. D) a rogue nation.
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The government agency that controls the development and availability of new medical discoveries, including pharmaceutical drugs is
a. the Health Care Financing Administration. b. the Food and Drug Administration. c. the Centers for Disease Control. d. the National Institutes for Health. e. the Federal Emergency Medical Administration.
Economics