If the supply curve for news magazines is an upward-sloping line and goes through the point (quantity supplied = 0,price = $1.00),then the price elasticity of supply for news magazines is
A)less than one.
B)greater than one.
C)perfectly inelastic.
D)equal to the price elasticity of demand for news magazines.

Question

Quizplus · Accepted Answer

The supply curve is upward-sloping and starts at a positive price when quantity is zero, indicating that the percentage change in quantity supplied is greater than the percentage change in price, which means the price elasticity of supply is greater than one.

If the Supply Curve for News Magazines Is an Upward-Sloping