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Author Question: If the price elasticity of supply in the kiwi fruit industry equals 1, supply is a. perfectly ... (Read 28 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

  • Member
  • Posts: 567
Reply 2 on: Jul 1, 2018
Excellent

xiaomengxian

  • Member
  • Posts: 311
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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