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Author Question: If the price elasticity of supply in the kiwi fruit industry equals 1, supply is a. perfectly ... (Read 108 times)

bobthebuilder

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  • Posts: 567
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
:D TYSM

nyrave

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

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