question archive The elasticity of supply is defined as the changes in quantity supplied divided by the change in price
The elasticity of supply is defined as the changes in quantity supplied divided by the change in price
Subject:EconomicsPrice:2.88 Bought3
The elasticity of supply is defined as the changes in quantity supplied divided by the change in price.
a) marginal; percentage
b) total; percentage
c) percentage; percentage
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The correct answer is c) percentage; percentage.
The price elasticity of supply is found by dividing the percentage change in demand by the percentage change in price.
