Elasticity of supply
Authored by Robert Wynn
Social Studies
9th - 12th Grade
Used 24+ times
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15 questions
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1.
MULTIPLE CHOICE QUESTION
3 mins • 8 pts
As price increases so will the supply of a good or service, this is according to the
2.
MULTIPLE CHOICE QUESTION
3 mins • 8 pts
Toyotas inability to respond to and meet the rising demand for the Prius suggested that the supply was
3.
MULTIPLE CHOICE QUESTION
3 mins • 8 pts
What measures how responsive consumers are to price changes?
4.
MULTIPLE CHOICE QUESTION
3 mins • 8 pts
A measure of how responsive producers are to price changes is
5.
MULTIPLE CHOICE QUESTION
3 mins • 6 pts
If a change in price leads to a relativity larger change in quantity supplied supply is said to be
6.
MULTIPLE CHOICE QUESTION
3 mins • 8 pts
If a change in price leads to a relativity smaller change in quantity supplied supply is considered to be
7.
MULTIPLE CHOICE QUESTION
3 mins • 6 pts
If the price and quantity supplied change by exactly the same percentage it is
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