Suppose a 20 percent increase in the price of gasoline results in a 25 percent increase in the quantity supplied. This response means that gasoline has
A) an elastic supply.
B) an inelastic supply.
C) a unit elastic supply.
D) an inelastic demand.
E) an elastic demand.
A
Economics
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If the MPC = .75, the spending multiplier is:
a. 4. b. 5. c. 1.33. d. 1.20. e. .25.
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Which of the following will increase economic freedom?
a. institutions and policies supportive of voluntary exchange b. high tariff rates c. high taxes d. rapid and unpredictable inflation e. all of the above
Economics