The price elasticity of supply can serve as an indicator of how much consumer expenditures will change with a change in price.

Name: The price elasticity of supply can serve as an indicator of how much consumer expenditures will change with a change in price.
Brand: Quizplus
Rating: 5.0 (33 reviews)

Question

Quizplus · Accepted Answer

The price elasticity of supply measures how much the quantity supplied of a good responds to a change in the price of that good, not how consumer expenditures change with a change in price.

The Price Elasticity of Supply Can Serve as an Indicator