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If the coefficient of price elasticity of supply is greater than one, the supply is…

If the coefficient of price elasticity of supply is greater than one, the supply is said to be

  • A.
    perfectly elastic
  • B.
    fairly inelastic
  • C.
    infinitely inelastic
  • D.
    fairly elastic
Correct Answer: Option D
Explanation

If a price elasticity of supply is greater than 1, it means supply is relatively or fairly elastic