Given two supply curves passing through the same point,the flatter one has the higher elasticity.

Question

Quizplus · Accepted Answer

The flatter the supply curve, the higher the elasticity. This is because a flatter supply curve means that a relatively small change in price will result in a larger change in quantity supplied. Therefore, the flatter supply curve has a higher responsiveness to changes in price, indicating higher elasticity.

Given Two Supply Curves Passing Through the Same Point,the Flatter