Economics · Elasticity of Supply
If the percentage increase in the quantity of a good supplied is smaller than the percentage increase in its price, the coefficient of price elasticity of supply is:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Zero
- 2Greater than 1
- 3Less than 1✓
- 4Equal to 1
Correct answer
Less than 1
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