If the supply of oranges is unit elastic, the price elasticity of supply of oranges is
A) 1.0.
B) 0.0.
C) -1.0.
D) -100.0.

Name: If the supply of oranges is unit elastic, the price elasticity of supply of oranges is A) 1.0. B) 0.0. C) -1.0. D) -100.0.
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Question

Quizplus · Accepted Answer

When the supply of a good is unit elastic, the price elasticity of supply is exactly 1.0, indicating that a 1% change in price leads to a 1% change in quantity supplied.

If the Supply of Oranges Is Unit Elastic, the Price