Question

Measures reaction of quantity supplied to changes in price, as proportion change in quantity supplied persuades by a one percent alteration in price is

a.

price elasticity of supply

b.

price elasticity of demand

c.

elasticity

d.

law of marginal utility

Answer: (a).price elasticity of supply

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Q. Measures reaction of quantity supplied to changes in price, as proportion change in quantity supplied persuades by a one percent alteration in price is

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