If the quantity supplied responds only slightly to changes in price,then
A) supply is said to be elastic.
B) supply is said to be inelastic.
C) an increase in price will not shift the supply curve very much.
D) even a large decrease in demand will change the equilibrium price only slightly.
Correct Answer:
Verified
Q2: Frequently,in the short run,the quantity supplied of
Q4: When a supply curve is relatively flat,the
A)sellers
Q5: The price elasticity of supply measures how
Q7: A key determinant of the price elasticity
Q8: The price elasticity of supply measures how
Q9: A linear,upward-sloping supply curve has
A)a constant slope
Q10: A key determinant of the price elasticity
Q11: If the price elasticity of supply for
Q185: The price elasticity of supply measures how
Q196: The supply of a good will be
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