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Author Question: When the supply elasticity of a product is 2.5, a 10 percent decrease in price will _____ the ... (Read 64 times)

rosent76

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on: Jun 30, 2018
When the supply elasticity of a product is 2.5, a 10 percent decrease in price will _____ the quantity supplied of the product by _____ percent.
 a. increase; 25
  b. decrease; 25
  c. increase; 2.5
  d. decrease; 2.5
  e. decrease; 4

Question 2

In the long run, all costs are variable.
 a. True
  b. False
  Indicate whether the statement is true or false


TINA

  • Sr. Member
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Reply #1 on: Jun 30, 2018
Answer to Question 1

b

Answer to Question 2

True


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