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ollegr [7]
3 years ago
11

Suppose the value of the price elasticity of supply is 4. what does this mean? a 1 percent increase in the price of the good cau

ses the supply curve to shift upward by 4 percent. a 4 percent increase in the price of the good causes quantity supplied to increase by 1 percent. for every $1 increase in price, quantity supplied increases by 4 units. a 1 percent increase in the price of the good causes quantity supplied to increase by 4 percent.
Business
1 answer:
Aleonysh [2.5K]3 years ago
8 0

A. 1% increase in the price of the good causes the supply curve to shift upward by 4 percent.

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