An economist studying the market for wild Alaskan salmon determines the price elasticity of supply to be 0.43. a. In this case, the price elasticity of supply is said to be: inelastic. elastic. unit-elastic. b. A 10% increase in price will lead to: exactly a 10% increase in quantity supplied. a more than 10% increase in quantity supplied. a less than 10% increase in quantity supplied.

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9 July, 14:07

An economist studying the market for wild Alaskan salmon determines the price elasticity of supply to be 0.43. a. In this case, the price elasticity of supply is said to be: inelastic. elastic. unit-elastic. b. A 10% increase in price will lead to: exactly a 10% increase in quantity supplied. a more than 10% increase in quantity supplied. a less than 10% increase in quantity supplied.

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Answers (2)

Know the Answer?

Skippy · Answer 1

It will result in 10% increase in quantity supplied.

Snow White · Answer 2

A. Inelastic

B. a less than 10% increase in quantity supplied

Explanation:

A supply is inelastic when a percentage change in quantity supplied is less than percentage change in price.

A supply is inelastic if the price elascitiy is less than 1.