2. USAEO Microeconomics
Elasticity Of Supply — Quiz
Test your understanding of elasticity of supply with 5 practice questions.
Practice Questions
Question 1
Which of the following best defines the price elasticity of supply?
Question 2
If the supply of a good is perfectly inelastic, what would the price elasticity of supply be?
Question 3
A firm’s supply curve is given by $Q_s = 5P - 20$. What is the price elasticity of supply when the price is $10$?
Question 4
Which of the following factors is most likely to make the supply of a good more elastic?
Question 5
Suppose the price of a product increases by 10% and the quantity supplied increases by 25%. What is the price elasticity of supply?