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4. Elasticity - Part 2 of 2!
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4. Elasticity - Part 2 of 2!
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4. Elasticity / Price Elasticity of Supply / Problem 1
Problem 1
Why is the price elasticity of supply always a positive value?
A
Because supply curves are always vertical.
B
Because it measures consumer preferences.
C
Because negative values are not allowed in economic calculations.
D
Because the law of supply states that price and quantity supplied move in the same direction.
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