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Author Question: If the price elasticity of supply in the kiwi fruit industry equals 1, supply is a. perfectly ... (Read 40 times)

bobthebuilder

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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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Answer to Question 1

C

Answer to Question 2

B




bobthebuilder

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Reply 2 on: Jul 1, 2018
:D TYSM


mcarey591

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Reply 3 on: Yesterday
Great answer, keep it coming :)

 

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