The supply of product X is unit-elastic if the price of X increases by ________ and, as a result of that price change, the quantity supplied ________

A. 8%; increases by 8%.
B. 5%; increases by 7%.
C. 7%; increases by 5%.
D. 10%; stays the same.


Answer: A

Economics

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How are aggregate supply and stagflation related?

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Which of the following changes will occur to the market for movie tickets when the price of the tickets rises

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Suppose that David buys the same number of energy drinks every weekend no matter what happens to the price of the energy drinks. What does this suggest about David's demand for energy drinks?

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Economics