Home ยป If price changes by 1% and supply changes by 2%, then the supply is Demand and Supply MCQs If price changes by 1% and supply changes by 2%, then the supply is September 27, 2022 6 Views Q. If price changes by 1% and supply changes by 2%, then the supply is ______. StaticIndeterminateInelasticElastic Answer: Elastic
The term ‘normal profit’ as used in the analysis of equilibrium of the firm under perfect competition, refers to