The elasticity of supply:
A) Decreases over time
B) Tells how impossible it is to increase food supply
C) Tells how responsive supply is to changes in weather
D) Tells how responsive supply is to changes in price
Correct Answer:
Verified
Q22: The market supply curve:
A) Slopes up due
Q23: a supply schedule shows:
A) How quantity supplied
Q24: The Law of Supply is due to:
A)
Q25: In the supply equation:
A) The price is
Q26: Economists draw supply curves "backward" due to:
A)
Q28: An inelastic supply curve:
A) Has a steep
Q29: An elastic supply curve is:
A) Less steep
Q30: A unitary elastic supply curve:
A) =1
B) >1
C)
Q31: If the price of oranges increases by
Q32: If the price of shirts increases 10
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