1. If the price of a good increases by 5% and the quantity supplied increases by 10%, which of the following is true for the given range? A. The good is inelastic. B. The good is unit elastic. C. The price elasticity of supply is 0.5. D. The price elasticity of supply is 2. E. The price elasticity of supply is 50. 2. In the attachment which of the following must be true of the supply above? A. The supply is relatively inelastic. B. The supply is relatively elastic. C. The supply is unit elastic. D. The percentage change in quantity is greater than the percentage change in price. E. The change in quantity is greater than the change in price at every point. 3. The suppliers of good A are more able to increase in response to price increases than the suppliers of good B. This means that the suppliers of good A. A. Have greater production costs. B. Have a greater price elasticity of supply. C. Should consider trading with the suppliers of good B. D. Sell inferior goods. E. Must have an elasticity coefficient greater than 1.