Figure 4.7
-Refer to Figure 4.7.A unit-elastic supply curve is shown in:
A)Panel A.
B)Panel B.
C)Panel C.
D)Panel D.

Name: Figure 4.7 -Refer to Figure 4.7.A unit-elastic supply curve is shown in: A)Panel A. B)Panel B. C)Panel C. D)Panel D.
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Question

Figure 4.7 
-Refer to Figure 4.7.A unit-elastic supply curve is shown in:
A)Panel A. 
B)Panel B. 
C)Panel C. 
D)Panel D.

Quizplus · Accepted Answer

A unit-elastic supply curve is represented by a straight line passing through the origin, as shown in Panel C. This indicates that the percentage change in quantity supplied is equal to the percentage change in price, which is the definition of unit elasticity.

Figure 4.7 -Refer to Figure 4.7.A Unit-Elastic Supply Curve Is Shown In