Figure 4.3
-In Figure 4.3 the most inelastic supply curve
A) is Supply₁.
B) is Supply₂.
C) is Supply₃.
D) cannot be determined.

Name: Figure 4.3 -In Figure 4.3 the most inelastic supply curve A) is Supply₁. B) is Supply₂. C) is Supply₃. D) cannot be determined.
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Question

Figure 4.3
-In Figure 4.3 the most inelastic supply curve
A) is Supply₁. 
B) is Supply₂. 
C) is Supply₃. 
D) cannot be determined.

Quizplus · Accepted Answer

Supply₁ is the most inelastic supply curve because it is the steepest. This means that a small change in price will lead to a large change in quantity supplied.

Figure 4.3 -In Figure 4.3 the Most Inelastic Supply Curve