Figure 5-19
-Refer to Figure 5-19. Which of the following statements is correct?
A)Supply curve A is perfectly elastic.
B)Supply curve B is perfectly inelastic.
C)Supply curve C is more inelastic than supply curve D.
D)Supply curve D is unit elastic.

Question

Figure 5-19    
-Refer to Figure 5-19. Which of the following statements is correct?
A)Supply curve A is perfectly elastic. 
B)Supply curve B is perfectly inelastic. 
C)Supply curve C is more inelastic than supply curve D. 
D)Supply curve D is unit elastic.

Quizplus · Accepted Answer

Supply curve C is steeper than supply curve D, indicating a less responsive quantity supplied to changes in price. This means that supply curve C is more inelastic than supply curve D. However, we cannot determine the elasticity of supply curves A and B from the given information.