Question

The elasticity of supply is defined as the.

• A. Responsiveness of the quantity supplied of a good to a change in its price
• B. Responsiveness of the quantity supplied of a good without in its price
• C. Responsiveness of the quantity demanded of a good to a change in its price
• D. Responsiveness of the quantity demanded of a good without change in its price

Answer 1

The correct option is A Responsiveness of the quantity supplied of a good to a change in its price

1:The elasticity of supply is the responsiveness of the quantity supplied and the change in price.
2:The elasticity of supply is measured as the ratio of proportionate change in the quantity supplied to the proportionate change in price.