Multiple Choice
If the price elasticity of supply equals zero, this implies that
A) suppliers can easily change quantity supplied when price changes.
B) the supply curve is vertical.
C) the percentage change in price of the good supplied is zero.
D) the percentage change in quantity supplied equals the percentage change in price.
Correct Answer:
Verified
Correct Answer:
Verified
Q37: The price elasticity of demand is defined
Q39: If a small percentage increase in the
Q40: If a supply curve for a good
Q41: If consumers always spend 15 percent of
Q43: Suppose that the price elasticity of supply
Q44: If there is excess capacity in a
Q45: In general, a flatter demand curve is
Q46: If Euro T-Shirt Co. lowers its price
Q200: If an increase in income results in
Q207: In general, demand curves for luxuries tend