Which elasticity measures producers' responsiveness to a change in price?
A. Price elasticity of demand
B. Income elasticity of supply
C. Cross-price elasticity
D. Price elasticity of supply
Answer: D
Economics
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What will be an ideal response?
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If a firm sells 200 units of output at $15 per unit and 210 units of output when price is reduced to $14, its marginal revenue from selling the last unit is
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Economics
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What will be an ideal response?
Economics