If the price elasticity of supply is zero, the supply curve is a. upward sloping. b. horizontal.

Question:

If the price elasticity of supply is zero, the supply curve is

a. upward sloping.

b. horizontal.

c. vertical.

d. fairly flat at low quantities but steeper at larger quantities.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For answer-question

Principles Of Microeconomics

ISBN: 9780357133484

9th Edition

Authors: N Gregory Mankiw

See More Books

Question Posted: Jan 27, 2024 11:01 PM

See More Questions

Consider, as we did in much of the chapter, a downward sloping linear demand curve. A: In what follows, we will consider what happens to the price elasticity of demand as we approach the horizontal...
1. In the classical model, it is thought that the long-run: A. and short-run aggregate supply curves are both upward sloping. B. aggregate supply curve is vertical and the short-run aggregate supply...
KYC's stock price can go up by 15 percent every year, or down by 10 percent. Both outcomes are equally likely. The risk free rate is 5 percent, and the current stock price of KYC is 100. (a) Price a...
Suppose there are two identical forest plots except that one will be harvested and left as is while the second will be cleared after the harvest and turned into a housing development. In terms of...
What internal resistance should the voltmeter of Example 19-15 have to be in error by less than 3%?
Mary died on April 3, 2018. As of this date, Mary's gross estate was valued at $16.5 million. On October 3, Mary's gross estate was valued at $15.8 million. The estate neither distributed nor sold...
A company is considering two alternatives, one of which must be implemented. Of the two projects, A has the higher maintenance cost, but B has the higher investment cost. The appropriate (and...
Deanna Nardelli started her own consulting firm, Nardelli Consulting, on May 1, 2014. The trial balance at May 31 is as follows. In addition to those accounts listed on the trial balance, the chart...
(5) Strong Data Processing Inequality for the Divergence. Given finite alphabets X and Y, consider a conditional probability distribution W(y|x), for (x, y) Xxy, such that for some y. y, W (y, x) > c...
The ability of firms to enter and exit a market over time means that, in the long run, a. the demand curve is more elastic. b. the demand curve is less elastic. c. the supply curve is more elastic....
The price of a good rises from $16 to $24, and the quantity supplied rises from 90 to 110 units. Calculated with the midpoint method, the price elasticity of supply is a. 1/5. b. 1/2. c. 2. d. 5.
Mrs Johnston has taken out a lease on a shop for a down payment of ?5000. Additionally, the rent under the lease amounts to ?5000 per annum. If the lease is cancelled, the initial payment of ?5000 is...
Simplify the following expression. x3 dx dp [ 2 5P
Write a C++ program to help suggest outfits for you to wear, with a randomized suggestion of a clothing combo for top/bottom depending on the weather (for example, a blue long-sleeve shirt and jeans...
This assignment is based on the article "How One Stupid Tweet Blew Up Justine Sacco's Life" by Jon Ronson (posted under assignments tab on FOL). Read the article carefully and complete your...
Use the episilon delta definition to establish the following limits: 1.) limx = 9 x-3 2.)lim, (x+x- 2) = x--1 3.)limx = 8 x-2 - 4.) lim (x + 2x - 1) = 2 x1 2 5.) lim (2x + x + 1) = 29 x-4
What is the goods trade balance? (Numeric calculations required - Show your work) . What is the current account balance?(Numeric calculations required - Show your work) Does the financial account...
The Central Division of American, Inc., has operating income of $19,200 on sales revenue of $160,000. Divisional operating assets are $100,000, and management of American has determined that a...
We all experience emotions, but some people disguise their true feelings better than others. Do you think this is a helpful or harmful thing to do? Under what conditions do you think it would be most...
Every weekend more than 500 different vendors set up at the local farmers market, selling a variety of items from homemade prepared foods to fresh produce. Yolanda rents a booth each weekend at the...
The Economics in Practice discusses the increase in sales of books that have been endorsed by Oprah Winfreys book club. While Oprah receives no payment for her book club endorsements, many...
If you have traveled to other countries, you may have firsthand knowledge about McDonalds menu items that are available only in foreign markets, but McDonalds menus also contain regional variations...
1) As a systems analyst, you are preparing a new information system project proposal for management that require you to create a costs-benefits analysis prior to project presentation. Assume that the...
The following question deals with externalities and water management policy: As the CFO you must propose a funding plan for a proposed Water Management Policy in Ventura, CA County that will require...
1. Contents of Health Care Plans. What type of information is contained in a typical health insurance policy? 2. Other Health Care Coverage. What are some common types of health care that may be...

If the price elasticity of supply is zero, the supply curve is a. upward sloping. b. horizontal.

Question:

Step by Step Answer:

Principles Of Microeconomics

Students also viewed these Business questions