Chapter 5 Home Work Questions
Please, write the letter of the correct answer
The price elasticity of supply measures how
much the quantity supplied of good X responds
to changes in the price of good X.
A. True
B. False
If farmers become more productive in
growing wheat, total revenue of wheat
farmers will rise.
A. True
B. False
A demand curve with a price elasticity
of zero is a horizontal line.
