The price elasticity of supply for toys is 0.36, so that a 1 percent increase in price would generate a
a. 0.36 percent increase in quantity supplied
b. 3.60 percent increase in quantity supplied
c. 0.36 percent decrease in quantity supplied
d. 3.60 percent decrease in quantity supplied
e. 1.36 percent increase in quantity supplied
A
Economics
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The market for smartwatches is becoming very competitive. The increase in competition in this market is an example of how the market responds to
A) changes in population. B) increases in income. C) changes in consumer tastes. D) decreases in the price of smartphones (a substitute for the product).
Economics
Describe four of the five major income maintenance programs in the United States that were discussed in the text
What will be an ideal response?
Economics