Which statement gives the definition of price elasticity of supply?
- AIt is a measure of how the price of a good responds to a change in the quantity supplied.
- BIt is a measure of how the quantity supplied of a good responds to a change in its price.
- CIt is a measure of how the supply of a good responds to a change in its cost of production.
- DIt is a measure of how the supply of good X responds to a change in the price of good Y.