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Author Question: A good is said to have an elastic supply if its price elasticity of supply is: A) equal to zero. ... (Read 119 times)

stevenposner

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on: Jun 29, 2018
A good is said to have an elastic supply if its price elasticity of supply is:
 
  A) equal to zero.
  B) between zero and one.
  C) equal to one.
  D) greater than one.

Question 2

Social surplus is maximized in a(n) ________.
 
  A) perfectly competitive market
  B) monopolistically competitive market
  C) monopoly market
  D) oligopoly market


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prumorgan

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Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

A


stevenposner

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Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

laurnthompson

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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