As prices change, the elasticity of supply describes the movement
A) of a shift in the supply curve.
B) of the equilibrium price.
C) along the supply curve.
D) from a necessity to a luxury good.
C
You might also like to view...
Explain why the variance of an investment is a useful measure of the risk associated with it
What will be an ideal response?
Which of the following is not one of the functions of money?
a. unit of account b. means of deferred payment c. encouraging people to barter d. medium of exchange
In a television advertisement for AFLAC supplemental health insurance, an ice skater says to his skating partner, "Do you want to try a triple jump?" She responds, "Why not, I have AFLAC." This response illustrates the:
A. principal-agent problem. B. adverse selection problem. C. moral hazard problem. D. free-rider problem.
One result of a tax is an increase in economic efficiency
Indicate whether the statement is true or false