Question
A 10% increase in the price of a good causes a 10% decrease in quantity supplied. The supply curve is a _______.
Answer: Option A
:
A
ϵs=% change in quantity% change in price=1010=1
Unit elastic supply curves are straightlines passing through the origin.
Was this answer helpful ?
:
A
ϵs=% change in quantity% change in price=1010=1
Unit elastic supply curves are straightlines passing through the origin.
Was this answer helpful ?
Latest Videos
Latest Test Papers
Submit Solution