In the above figure, a change in quantity demanded with unchanged demand is represented by a movement from
A) point a to point e.
B) point a to point b.
C) point a to point c.
D) None of the above represent a change in the quantity demanded with an unchanged demand.
Question 2
The elasticity of supply does NOT depend on
A) resource substitution possibilities.
B) the fraction of income spent on the product.
C) the time elapsed since the price change.
D) none of the above because all of the factors listed affect the elasticity of supply.
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