If a 4% increase in price leads to a increase in the quantity supplied – McqOptions

MCQOPTIONS

1.	If a 4% increase in price leads to a increase in the quantity supplied of 8% ?
A.	Supply is price elastic
B.	Supply is income elastic
C.	Price elasticity of demand is -2
D.	Price elasticity of supply is -2
Answer» B. Supply is income elastic

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