The elasticity of supply is defined as the ____ change in quantity supplied divided by the ____ change in price.
A)total; percentage
B)percentage; marginal
C)marginal; percentage
D)percentage; percentage

Question

The elasticity of supply is defined as the ____ change in quantity supplied divided by the ____ change in price.
A)​total; percentage
B)​percentage; marginal
C)​marginal; percentage
D)​percentage; percentage

Quizplus · Accepted Answer

The elasticity of supply is defined as the percentage change in quantity supplied divided by the percentage change in price, which measures how much the quantity supplied of a good responds to a change in the price of that good.

The Elasticity of Supply Is Defined as the ____ Change