Figure 5-17

-Refer to Figure 5-17.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 5-17

-Refer to Figure 5-17.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 more inelastic than supply curve D because it is steeper, indicating that quantity supplied is less responsive to price changes compared to supply curve D.

Figure 5-17 -Refer to Figure 5-17.Which of the Following Statements Is Correct