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Author Question: If the price elasticity of supply in the kiwi fruit industry equals 1, supply is a. perfectly ... (Read 90 times)

bobthebuilder

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on: Jul 1, 2018
If the price elasticity of supply in the kiwi fruit industry equals 1, supply is
 a. perfectly elastic
  b. relatively elastic
  c. unit elastic
  d. relatively inelastic
  e. perfectly inelastic

Question 2

If supply is perfectly elastic, the supply curve is
 a. vertical
  b. horizontal
  c. any straight-line supply curve
  d. any supply curve intersecting a perfectly elastic demand curve
  e. any supply curve intersecting a demand curve which is unit elastic


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mjenn52

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Reply #1 on: Jul 1, 2018
Answer to Question 1

C

Answer to Question 2

B


bobthebuilder

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  • Posts: 567
Reply 2 on: Jul 1, 2018
Thanks for the timely response, appreciate it

kjohnson

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  • Posts: 330
Reply 3 on: Yesterday
Gracias!

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