Suppose that the price of product X rises by 20%, and the quantity supplied of X increases 18%. The coefficient of price elasticity of supply for good X is:
A. Negative and, therefore, X is an inferior good.
B. Positive and, therefore, X is a normal good.
C. More than 1 and, therefore, supply is elastic.
D. Less than 1 and, therefore, supply is inelastic.
D. Less than 1 and , therfore, supply is inelastic.
(this multiple choice question has been scrambled)