Economics 12E - Arnold - TB_101 - is a infinity b 1 c 0 d-1 ANSWER c POINTS 1 DIFFICULTY Easy NATIONAL STANDARDS United States BUSPROG Analytic LOCAL

Economics 12E - Arnold - TB_101 - is a infinity b 1 c 0 d-1...

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is a. infinity. b. 1. c. 0. d. -1. ANSWER: c POINTS: 1 DIFFICULTY: Easy NATIONAL STANDARDS: United States - BUSPROG: Analytic LOCAL STANDARDS: United States - OH - Default City - DISC: Elasticity KEYWORDS: Bloom's: Comprehension 64. Price elasticity of supply is the percentage change in the quantity __________ of a good divided by the percentage change in __________. a. demanded; the price of the goodb. supplied; the price of the goodc. demanded; the price of another goodd. supplied; the price of another goode. demanded; incomeANSWER: b POINTS: 1 DIFFICULTY: Moderate NATIONAL STANDARDS: United States - BUSPROG: Analytic LOCAL STANDARDS: United States - OH - Default City - DISC: Elasticity KEYWORDS: Bloom's: Comprehension 65. Suppose a producer decides that if the price of her product is $32, the quantity supplied willbe 1,000 units, and if the price is $35, the quantity supplied will be 1,300. The price elasticity ofsupply for the good is approximately POINTS: 1 DIFFICULTY: Moderate NATIONAL STANDARDS: United States - BUSPROG: Analytic
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LOCAL STANDARDS: United States - OH - Default City - DISC: Elasticity KEYWORDS: Bloom's: Application NOTES: New
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