The size of a movement ALONG a demand curve caused by a shift in supply would...
The size of a movement ALONG a demand curve caused by a shift in supply would be measured by the Select one: a. cross-price elasticity of demand b. elasticity of supply c. elasticity of demand d. cross-price elasticity of supply
Homework Answers
(a) Cross elasticity of Demand measures the responsiveness of one good when there is change in price of the other, So, this option is not correct.
(b) Elasticity of Supply: Measure the responsiveness of quantity supplied due to change in price. So, this option is not correct.
(c) Elasticity of Demand: Measure the responsiveness of quantity demanded due to change in price. So, this option is not correct.
(d) Cross-price elasticity of supply: It is the percentage change in supply divided by percentage change in prices due to the shift. So, this is the right option
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