Refer to the figure below. If the price rises from $10 to $14, what will happen to the price elasticity of supply? 
A. It stays the same.
B. It decreases.
C. It increases.
D. This cannot be determined from the information provided.
Answer: B
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In the above figure, which movement illustrates the impact of a constant price level and a rising money wage rate?
A) E to I B) E to F C) E to J D) E to H
Which of the following holds true, if goods sell for the same price worldwide when converted to a common currency?
a. A high rate of inflation exists. b. A fixed exchange-rate system exists. c. Purchasing power parity exists. d. The foreign exchange market is in equilibrium. e. Arbitrage opportunities exist.
Which of the following is the largest single source of federal government revenue?
a. payroll tax b. excise taxes c. personal income tax d. corporate income tax
Some advocates of antipoverty programs claim that fighting poverty is a public good. Describe why government intervention may be necessary to reduce poverty