(Answered)-Which of the following statements is true? a) The supply curve - (2025 Updated Original AI-Free Solution

Question

Which of the following statements is true?

a) The supply curve shows what customers would like supplied at each and every price

b) If a price increase of 5% increases the quantity supplied by 2% the price elasticity of supply is -0.4

c) A reduction in price shifts the supply curve to the right

d) If the price elasticity of supply is +0.2 then supply is price inelastic