The price elasticity of supply when the supply curve is Q = 5 is
A) 5.
B) perfectly inelastic.
C) perfectly elastic.
D) Cannot be calculated from the information provided.

Question

Quizplus · Accepted Answer

The supply curve Q = 5 represents a situation where the quantity supplied remains constant regardless of the price. This is a case of perfectly inelastic supply, as the quantity does not change in response to price changes.

The Price Elasticity of Supply When the Supply Curve Is