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Choose the Correct Alternative from Given Options: the Coefficient of Price Elasticity of Supply of a Good is 3. It is Known as ___________. - Economics

MCQ

Choose the correct alternative from given options:
The coefficient of price elasticity of supply of a good is 3. It is known as ___________.

Options

  • Unitary Elastic Supply

  • Perfectly Inelastic Supply

  • Elastic Supply

  • Inelastic Supply

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Solution

The coefficient of price elasticity of supply of a good is 3. It is known as elastic supply.
Hence, the correct answer is option Elastic Supply.

Concept: Concept of Supply
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