Multiple Choice
Which of the following statements apply as the elasticity of supply approaches infinity
A) Very small changes in price will lead to very large changes in quantity supplied.
B) Very large changes in price will lead to very small changes in quantity supplied.
C) Very small changes in price will lead to no change in quantity supplied.
D) Very large changes in price will lead to no change in quantity supplied.
Correct Answer:
Verified
Correct Answer:
Verified
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