Answer to Question #240903 in Microeconomics for sophia

Question

According to the equation Q​ = 0.38​P, where Q is the quantity supplied and P is the price of the good measured in​ dollars, the

A.

quantity supplied rises by 38 units as the price increases by​ $1.

B.

quantity supplied rises by 38 percent of the price increase.

C.

the number of units supplied rises by 3.8 percent as the price increases by​ $1.

D.

quantity supplied falls by 0.38 units as the price increases by​ $1

E.

slope of the supply curve equals 38.

Answer 1

C.

the number of units supplied rises by 3.8 percent as the price increases by​ $1.