Question and answer
if the supply of a good is elastic, which statement is true? A) the producer will increase the amount being produced if the price rises B) the producer is enjoying increasing marginal returns c) the
producer will increase the amount being produced if the price falls D) the producer is experiencing diminishing marginal returns.
B and D is not related as marginal return deals with the incremental return. the answer is A as it will be more profitable to supply elastic at the higher price.
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Asked 6/16/2012 11:43:20 AM
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