Which of the following statements about elasticity of supply is true?

Question

Quizplus · Accepted Answer

Elasticity of supply can be positive, meaning that a change in price will result in a proportionally larger change in the quantity supplied. It can also be zero, indicating that a change in price has no effect on the quantity supplied, or it can be infinite, indicating that even a slight change in price results in a large change in quantity supplied. It cannot be negative as the quantity supplied cannot decrease with an increase in price.

Which of the Following Statements About Elasticity of Supply Is