question archive Suppose the price elasticity of supply for a good at the current price is ES = 0
Suppose the price elasticity of supply for a good at the current price is ES = 0
Subject:EconomicsPrice:2.88 Bought3
Suppose the price elasticity of supply for a good at the current price is ES = 0.2. It follows that a 2 percent increase in price will result in a:
a) 0.4 percent increase in quantity supplied
b) 1 percent increase in quantity supplied
c) 4 percent increase in quantity supplied
d) 10 percent increase in quantity supplied
e) 40 percent increase in quantity supplied
Option 1
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Option 2
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