Multiple Choice
If the price elasticity of supply equals zero, this implies that:
A) suppliers can easily change the quantity supplied of the product as the price of the product changes.
B) the period under consideration is a very long-run time period.
C) the supply curve is perfectly vertical.
D) the percentage change in quantity supplied equals the percentage change in product price.
Correct Answer:
Verified
Correct Answer:
Verified
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