Table 5-6

-Refer to Table 5-6.Which of the three supply curves represents the least elastic supply?
A) supply curve A
B) supply curve B
C) supply curve C
D) There is no difference in the elasticity of the three supply curves.

Question

Table 5-6
 
-Refer to Table 5-6.Which of the three supply curves represents the least elastic supply?
A) supply curve A 
B) supply curve B 
C) supply curve C 
D) There is no difference in the elasticity of the three supply curves.

Quizplus · Accepted Answer

Supply curve A represents the least elastic supply because it has a steeper slope, indicating that a change in price will result in a relatively small change in the quantity supplied. In contrast, supply curves B and C have flatter slopes, indicating that a change in price will result in a larger change in the quantity supplied, making them more elastic.

Table 5-6 -Refer to Table 5-6.Which of the Three Supply Curves Represents