The elasticity of supply is measured by:
A) the quantity supplied divided by price.
B) the change in quantity supplied divided by the change in price.
C) the percentage change in quantity supplied divided by the percentage change in quantity demanded.
D) the percentage in quantity supplied divided by the percentage change in price.
D
Economics
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A cost not borne by the producer but borne by other people is known as ________ cost
A) a marginal B) an internal C) an external D) a nonessential E) a subsidized
Economics
The gains from international trade are closely related to
A) the labor theory of value. B) how much the autarky price differs from the international price (i.e. the terms of trade). C) the fact that one country must lose from trade. D) All of the above.
Economics