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

Discussion

No Comment Found

Related MCQs

<p> Market equilibrium exists when _________ at the prevailing price?</p>
<p> If a 4% increase in price leads to a increase in the quantity supplied of 8% ?</p>
<p> If the quantity demanded of beef increases by 5% when the price of chicken increase by 20% the cross-price elasticity of demand between beef and chicken is ?</p>
<p> Increased level consumption ?</p>
<p> Marginal revenue is the ________ when output is __________?</p>
<p> A measurement showing how quantity demanded varies with income is the ?</p>
<p> A firm that makes profit in addition to normal profit is making ?</p>
<p> An upward shift in marginal cost _____ output and an upward shift in marginal revenue ______ output?</p>
<p> The opportunity cost of a student is____________?</p>
<p> Firms are assumed to ________ costs and to ________ profits?</p>