-If a small percentage change in the price brings a very large percentage change in the quantity supplied,then the supply is almost perfectly ________ and the supply curve is almost ________.
A) elastic; vertical
B) elastic; horizontal
C) inelastic; horizontal
D) inelastic; vertical
E) elastic; 45 degrees

Question

-If a small percentage change in the price brings a very large percentage change in the quantity supplied,then the supply is almost perfectly ________ and the supply curve is almost ________.
A) elastic; vertical 
B) elastic; horizontal 
C) inelastic; horizontal 
D) inelastic; vertical 
E) elastic; 45 degrees

Quizplus · Accepted Answer

When a small percentage change in price results in a large percentage change in the quantity supplied, the supply is considered almost perfectly elastic. This means that suppliers are willing to supply a lot more or a lot less of the product at very slight changes in price. An almost perfectly elastic supply curve is represented graphically as almost horizontal, indicating that even small price changes can lead to huge changes in the quantity supplied.

-If a Small Percentage Change in the Price Brings a Very