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Loraine Loraine
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8 years ago
Suppose a 20 percent increase in the price of gasoline results in a 25 percent increase in the quantity supplied. This response means that gasoline has
A) an elastic supply.
B) an inelastic supply.
C) a unit elastic supply.
D) an inelastic demand.
E) an elastic demand.
Textbook 
Essential Foundations of Economics

Essential Foundations of Economics


Edition: 7th
Authors:
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Start by doing what's necessary; then do what's possible; and suddenly you are doing the impossible.
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SmooothSmoooth
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8 years ago
Don't mention it Happy Dummy
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