A value of infinity for the elasticity of supply of some product implies that
A)the supply curve is horizontal.
B)supply is very unresponsive to price.
C)the supply curve is vertical.
D)the product will be supplied at any price.
E)no product will be supplied at any price.

Question

Quizplus · Accepted Answer

A value of infinity for the elasticity of supply means that the supply curve is perfectly elastic, which is represented by a horizontal line. This indicates that suppliers are willing to supply any quantity of the product at a given price.

A Value of Infinity for the Elasticity of Supply of Some