For a given increase in price, the greater is the elasticity of supply, the greater is the resulting
A)decrease in quantity supplied.
B)decrease in supply.
C)increase in quantity supplied.
D)increase in supply.

Question

For a given increase in price, the greater is the elasticity of supply, the greater is the resulting
A)​decrease in quantity supplied.
B)​decrease in supply.
C)​increase in quantity supplied.
D)​increase in supply.

Quizplus · Accepted Answer

The greater the elasticity of supply, the more responsive producers are to price changes, leading to a larger increase in quantity supplied in response to a given increase in price.

For a Given Increase in Price, the Greater Is the Elasticity