Which of the following represents a price elastic supply?
A) The quantity demanded increases 18 percent as a result of a decrease in the price of 8 percent.
B) The price rises by 8 percent causing the quantity demanded to fall by 10 percent.
C) The quantity supplied increases by 21 percent as a result of an increase in the price of 12 percent.
D) The price rises by 22 percent causing the quantity supplied to increase by 3 percent.
C
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As of 2012, what portion of bank assets were owned by the five largest bank holding companies?
A) 10% B) 25% C) 50% D) 80%
The most effective redistribution programs provide assistance to the hard core poor and transitory assistance to the marginal poor without _____
a. creating dependency on welfare payments b. costing taxpayers too much c. changing the behavior of individuals d. a and c
Who bears the burden of an excise tax if demand is perfectly inelastic; if supply is perfectly inelastic? Use graphs in your explanation
According to classical macroeconomic theory, in the long run
a. monetary growth affects both real and nominal variables. b. the only real variable affected by monetary growth is the unemployment rate. c. a number of factors that affect unemployment are influenced by monetary growth. d. monetary growth affects nominal but not real variables.