
What is price elasticity of supply?
Select ONE answer:
- the change in the quantity supplied when a price changes
- the change in the quantity supplied when demand changes
- the comparison of the proportionate change in supply to the proportionate change in demand
- the comparison of the proportionate change in supply to the proportionate change in price
Show your workings to arrive at your answer, and explain and justify your reasons:……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………
This multiple choice question is suitable for Economics KS4 and KS5 classes.
The answer is 4
- Not correct
- Not correct
- Not correct
- Correct
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