alleryMatch PES ratio: 1. Top term: p. Pct dQ 2. Bottom: q. Pct dP 3. Ratio: r. PES value
A1-p, 2-q, 3-r
B1-p, 2-r, 3-q
C1-q, 2-p, 3-r
D1-r, 2-p, 3-q
Answer & Solution
Correct answer: A. 1-p, 2-q, 3-r
Price elasticity of supply is defined as the percentage change in quantity supplied divided by the percentage change in price.
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