The price elasticity of supply of a good compares:
a. the percentage change in the price of the good with the percentage change in its quantity supplied.
b. the percentage change in the quantity supplied of the good with the percentage change in its price.
c. the percentage change in the quantity demanded of the good with the percentage change in its supply.
d. the percentage change in the quantity supplied of the good with the percentage change in its demand.
b
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Refer to Figure 11-1. Within a country, the impact of wars and revolutions and their subsequent destruction of capital is reflected in the per-worker production function in the figure above by a movement from
A) C to A. B) A to B. C) B to A. D) B to C.
The benefits of urbanization include: crime, pollution, increased taxation and congestion
Indicate whether the statement is true or false