If the percentage change in the quantity supplied of a good is ...

[laurencescou]

If the percentage change in the quantity supplied of a good is less than the percentage change in price of the good, the good is said to have a(n):
 
  A) inelastic supply.
  B) unit elastic supply.
  C) elastic supply.
  D) perfectly elastic supply.

Question 2

Refer to the scenario above. Which of the following statements is true?
 
  A) The discounted value of 3,400 to be received after five years is 3,000.
  B) Tom's return from investing in his friend's project is higher than the amount received from the bank after five years.
  C) Tom's return from investing in the bank is higher than the amount received from his friend's project after five years.
  D) The returns on both investments are likely to be similar and Tom should be indifferent about investing in either options.

[Juro]

Answer to Question 1

A

Answer to Question 2

C

[laurencescou]

Thank you

[Juro]

No problemo