Card 12 / 47: From which of the following data might you estimate a price elasticity of supply?
A) a price hike from $7 to $13 causes sales to fall from 16,000 shirts to 8,000 shirts monthly.
B) farmers increase soybean plantings 15 percent when the price increases 5 percent.
C) Ford's production increases when Chevy sales fall because GM raises prices.
D) the output of tennis balls slumps 8 percent when the prices of racquets go up 12 percent.
E) steel production and sales rise 18 percent when national income grows 13 percent.

Keyboard Shortcuts