Which of the following examples would have an inelastic supply curve?
a. A 3 percent increase in the price of soccer balls results in a 2 percent increase in quantity supplied.
b. A 7 percent increase in the price of soccer nets results in a 10 percent increase in quantity supplied.
c. A 9 percent increase in the price of soccer uniforms results in a 11 percent increase in quantity supplied.
d. A 15 percent increase in the price of soccer shoes results in a 22 percent increase in quantity supplied.
a. A 3 percent increase in the price of soccer balls results in a 2 percent increase in quantity supplied.
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Assuming that firms do not collude, compare the market outcome under oligopoly with the outcome under perfect competition
What will be an ideal response?
An excess demand for money will result in all the following, except:
a. an excess supply of bonds. b. a rise in investment spending. c. a fall in bond prices. d. a fall in consumption spending. e. a fall in equilibrium real GDP.
The government of country A, which has adopted American GDP accounting conventions, has calculated that the seasonally-adjusted market value of all final goods and services produced within country A in quarter 1 was $5 billion. The government will report that GDP in quarter 1 was
a. $1.25 billion at an annual rate. b. $4 billion at an annual rate. c. $5 billion at an annual rate. d. $20 billion at an annual rate.
If the structural stagnation hypothesis is correct, demand-side government policy has been far too expansionary since the mid:
A. 1970s. B. 1990s. C. 1980s. D. 2000s.