The size of the percentage change in the quantity supplied of a good or service when its price changes is called by one percent is called:
A) price elasticity of supply.
B) price elasticity of demand.
C) cross-price elasticity.
D) income elasticity of supply.
Correct Answer:
Verified
Q89: If the quantity effect outweighs the price
Q90: A price increase will cause an increase
Q91: Demand tends to be more elastic:
A)when price
Q92: A good is inelastic if:
A)total revenue decreases
Q93: Elasticity along a demand curve:
A)is constant if
Q95: Which elasticity measures producers' responsiveness to a
Q96: If total revenue increases as a result
Q97: Price elasticity of supply:
A)is the size of
Q98: Suppose that when the price of pineapples
Q99: If the price effect outweighs the quantity
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