Table 5-2

-Refer to Table 5-2.Using the midpoint method,which of the three supply curves has the most elastic price elasticity of supply?
A) Supply curve X
B) Supply curve Y
C) Supply curve Z
D) There is no difference in the elasticity of the three supply curves.

Question

Table 5-2
 
-Refer to Table 5-2.Using the midpoint method,which of the three supply curves has the most elastic price elasticity of supply?
A) Supply curve X 
B) Supply curve Y 
C) Supply curve Z 
D) There is no difference in the elasticity of the three supply curves.

Quizplus · Accepted Answer

Supply curve X has the most elastic price elasticity of supply because it has the steepest slope, indicating that a small change in price will result in a large change in quantity supplied.

Table 5-2 -Refer to Table 5-2.Using the Midpoint Method,which of the Three