The concept of elasticity of supply measures the responsiveness ...

[jparksx]

The concept of elasticity of supply measures the responsiveness of the
 
  A) quantity supplied to a change in the price.
  B) price to a change in the quantity supplied.
  C) quantity supplied to a change in the quantity demanded.
  D) quantity demanded to a change in the quantity supplied.

Question 2

In the table above, the deadweight loss is zero when ________ umbrellas are produced and sold.
 
  A) 20
  B) 40
  C) 60
  D) 80

[flannelavenger]

Answer to Question 1

A

Answer to Question 2

B