2: When a percentage in price results in equal change in quantity supplied, it is a
O Elastic supply
O Perfectly inelastic
Elasticity of supply
O Unitary elastic supply
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Explanation:
The price elasticity of supply is the percentage change in quantity supplied divided by the percentage change in price. Elasticities can be usefully divided into five broad categories: perfectly elastic, elastic, perfectly inelastic, inelastic, and unitary.
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