An economist studying the market for wild Alaskan salmon determines the price elasticity of supply to be 0.43. a. In this case,

Question

3 years ago

6

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.

Business

2 answers:

bonufazy [111] · Answer 1 · 2022-01-03T04:15:54+03:00

bonufazy [111]3 years ago

7 0

Answer:

It will result in 10% increase in quantity supplied.

Marina86 [1] · Answer 2 · 2022-01-03T03:09:35+03:00

Marina86 [1]3 years ago

4 0

Answer:

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.