The elasticity of supply is defined as the _______ change in quantity supplied divided by the _______
Change in price.
A) total; percentage
B) percentage; marginal
C) marginal; percentage
D) percentage; percentage

Question

Quizplus · Accepted Answer

The elasticity of supply is defined as the percentage change in quantity supplied divided by the percentage change in price. This measures how much the quantity supplied of a good responds to a change in the price of that good, expressed as a percentage.

The Elasticity of Supply Is Defined as the _______ Change