Table 5-2

-Refer to Table 5-2.Which of the three supply curves represents the most elastic supply?
A)supply curve A
B)supply curve B
C)supply curve C
D)There is no difference in the elasticity of the three supply curves.

Question

Table 5-2
 
-Refer to Table 5-2.Which of the three supply curves represents the most elastic supply?
A)supply curve A 
B)supply curve B 
C)supply curve C 
D)There is no difference in the elasticity of the three supply curves.

Quizplus · Accepted Answer

Supply curve C is the most elastic because it has a greater change in quantity supplied in response to a small change in price compared to the other two supply curves. This indicates that suppliers of this product are more responsive to price changes and can adjust their quantity supplied easily.

Table 5-2 -Refer to Table 5-2.Which of the Three Supply Curves Represents