The price elasticity of supply measures
A) the responsiveness of quantity demanded to a change in price.
B) the responsiveness of quantity supplied to a change in price.
C) the change in supply due to a change in input prices.
D) the change in price due to a change in quantity supplied.
B
Economics
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If the "Marginal Congestion Cost" for a public good is constant then the optimal number of users is infinite
a. True b. False
Economics
The interpretation of the slope coefficient in the model ln(Yi) = ?0 + ?1Xi + ui is as follows:
A) a 1% change in X is associated with a ?1 % change in Y. B) a change in X by one unit is associated with a ?1 change in Y. C) a change in X by one unit is associated with a 100 ?1 % change in Y. D) a 1% change in X is associated with a change in Y of 0.01 ?1.
Economics