If a fisher must sell all of his daily catch before it spoils for whatever price he is offered once the fish are caught the fisherman’s price elasticity of supply for fresh fish is ?

Related Mcqs:

If a small percentage increase in the price of a good greatly reduces the quantity demanded for that good, the demand for that good is ?

A. income inelastic B. price inelastic C. price elastic D. unit price elastic...

in general a flatter demand curve is more likely to be ?

A. price elastic B. unit price elastic C. none of these answers D. price inelastic...

If demand is linear (a straight line) then price elasticity of demand is ?

A. elastic in the upper portion and inelastic in the lower portion B. inelastic in the upper portion and elastic in the lower portion C. inelastic throughout D. constant along the demand curve...

If consumers think that there are very few substitutes for a good, then ?

A. Supply would tend to be price elastic B. none of these answers C. demand would tend to be price inelastic D. demand would tend to be price elastic...

The price elasticity of demand is defined as ?

A. the percentage change in the quantity demanded divided by the percentage change in income. B. the percentage change in income divided by the percentage change in the quantity demanded C. the percentage change in the quantity demanded of a good divided by the percentage change in the price of that good D. none of … The price elasticity of demand is defined as ?Read More...