Assume that the price of product Y decreases by 5% and the quantity supplied decreases by 2%. The coefficient of price elasticity of supply for product Y is:
A. Negative and therefore Y is an inferior product.
B. Less than one and therefore supply is-inelastic
C. More than-one and therefore supply is elastic,
D. Negative & supply curve is download slopping.
সঠিক উত্তরঃ
B.
Less than one and therefore supply is-inelastic
