Elasticity of supply tells us
A)How much sellers will increase production in response to a change in price.
B)How much sellers will change their price as their quantity supplied changes.
C)How much producers will increase production with changes in consumers' income.
D)How much supply responds to a change in quantity demanded.

Question

Quizplus · Accepted Answer

Elasticity of supply measures how responsive sellers are to changes in price. Specifically, it tells us how much the quantity supplied will change in response to a change in price.

Elasticity of Supply Tells Us