Question: Cross out the wrong option: PES for a normal good should be negative positive this is because there is on inverse/positive relationship between price and

Cross out the wrong option: PES for a normal good should be negative positive this is because there is on inverse/positive relationship between price and quantity supplied - A steep/shallow supply curve suggests that the good is inelastic i.e. supply is relatively Unresponsive/responsive to a change in price For a good which is alostic in nature, the percentage change in quantity supplied is less/more than the percentor: change in price

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