If price changes by 1% and supply changes by 2%, then the supply is

If price changes by 1% and supply changes by 2%, then the supply is

Q. If price changes by 1% and supply changes by 2%, then the supply is ______.

  • Static
  • Indeterminate
  • Inelastic
  • Elastic

Answer: Elastic

Demand and Supply MCQs
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