The price elasticity of supply is always a positive value because i. There is a direct relationship
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Question:
The price elasticity of supply is always a positive value because
i. There is a direct relationship between the price and the quantity supplied.
ii. As the equilibrium price increases, the equilibrium quantity also always increases.
iii. Buyers are willing to pay a higher price for larger quantities.
A) i only
B) ii only
C) iii only
D) i and ii
E) ii and iii
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