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If an Increase in the Supply of a Product Results

Question 7

Multiple Choice

If an increase in the supply of a product results in a decrease in the price,but no change in the actual quantity of the product exchanged,then the:


A) price elasticity of supply is zero.
B) price elasticity of supply is infinite.
C) price elasticity of demand is unitary.
D) price elasticity of demand is zero.

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