Author Question: If with a small decrease in the price of a good, the quantity supplied falls to zero, the supply of ... (Read 121 times)

OSWALD · **on:** Jun 29, 2018

If with a small decrease in the price of a good, the quantity supplied falls to zero, the supply of the good is said to be:

A) unit elastic.
B) inelastic.
C) perfectly inelastic.
D) perfectly elastic.

Question 2

Individuals A and B both produce good X. A has a comparative advantage in the production of good X if A

A) has a lower opportunity cost of producing good X than has B.
B) has a lower opportunity cost of producing good X than of producing good Y.
C) can produce more units of X in a given time period than can B.
D) can produce X using newer technology than can B.