If bread supply increases from 10 to 12 million loaves,then the percentage change in bread supply is equal to:
A) 1.2
B) 0.2
C) 2
D) 1
Correct Answer:
Verified
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
Q33: The price elasticity of supply will:
A) Increase
Q35: An arc elasticity of supply is:
A) The
Q36: if the price of corn increases, then
Q37: The cross price elasticity of supply of
Q38: The price elasticity of supply refers to:
A)
Q39: The arc elasticity of supply equals:
A) The
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