Table 5-10

-Refer to Table 5-10. Using the midpoint method, which of the three supply curves has the most inelastic price elasticity of supply?
A)Supply curve X
B)Supply curve Y
C)Supply curve Z
D)There is no difference in the elasticities of the three supply curves.

Question

Table 5-10
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-Refer to Table 5-10. Using the midpoint method, which of the three supply curves has the most inelastic price elasticity of supply?
A)Supply curve X 
B)Supply curve Y 
C)Supply curve Z 
D)There is no difference in the elasticities of the three supply curves.

Quizplus · Accepted Answer

Supply curve Z has the most inelastic price elasticity of supply because it is the steepest curve, indicating that quantity supplied changes the least with a change in price.

Table 5-10 ​

Table 5-10