The elasticity of supply is defined as the :
A. responsiveness of the quantity supplied of a good to a change in its price.
B. responsiveness of the quantity supplied of a good without change in its price.
C. responsiveness of the quantity demanded of a good to a change in its price.
D. responsiveness of the quantity demanded of a good without change in its price.
Answer:A
The elasticity of supply is defined as the :
A. responsiveness of the quantity supplied of a good to a change in its price. B. responsiveness of the quantity supplied of a good without change in its price. C. responsiveness of the quantity demanded of a good to a change in its price. D. responsiveness of the quantity demanded of a good without change in its price.