1.

A strainghtlinesupply curvecurve cuts theY- axisinitsnegativerange. What istheelastictiy of supply ?

Answer»

highly elastic
Unitaryelastic
Less elastic
Perfectly Elacstic

Solution : STAIGHT supply curve cutting Y-axis implies that there is not HAPPENING any change in QUANTITY supplied when PRICE is changing, thus supply is less elastic. our answer is option (C).


Discussion

No Comment Found