Question

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​

Answer 1

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.