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Question
Choose the correct alternative from given options:
The coefficient of price elasticity of supply of a good is 3. It is known as ___________.
Options
Unitary Elastic Supply
Perfectly Inelastic Supply
Elastic Supply
Inelastic Supply
Solution
The coefficient of price elasticity of supply of a good is 3. It is known as elastic supply.
Hence, the correct answer is option Elastic Supply.
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