Which one of the following would cause an increase in the supply of planes?
A) a decrease in the demand for planes
B) an increase in the price of planes
C) an increase in taxes applied to plane producers
D) an improvement in the technology used to produce planes
Answer: D
Economics
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If a huge percentage change in price leads to a small percentage change in quantity demanded, then demand is said to be inelastic
a. True b. False Indicate whether the statement is true or false
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