Q: Consider this scenario:
In response to an increase in the product s price, producers of MP3 players have increased the quantity supplied.
This is an example of ____________________.
a. elastic
supply
b. elastic demand
c. inelastic supply
d. inelastic demand
A:
In response to an increase in the product s price, producers of MP3 players have increased the quantity supplied. This is an example of - a. elastic supply.
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