If supply were perfectly inelastic, the supply curve would be a vertical straight line. a. True....
Question:
If supply were perfectly inelastic, the supply curve would be a vertical straight line.
a. True.
b. False.
Types of Elasticity of Supply
Just like the elasticity of demand, the elasticity of supply assumes different forms, which are: perfectly elastic supply, unitary elastic supply, and perfectly inelastic supply.
Answer and Explanation: 1
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- The correct answer is: True.
If the supply is perfectly inelastic, it means that the quantity supplied remains unchanged even when the price is...
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Price Elasticity of Supply in Microeconomics
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Chapter 2 / Lesson 14
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Understand what elasticity of supply is. Learn more about price elasticity of supply. Know about elastic and inelastic supply with some elastic supply examples.
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