The Following Questions Refer to the graph below.
-The supply of medical services in this market is
A)Elastic
B)Inelastic
C)Unit elastic
D)Price elastic
E)Infinite

Question

The Following Questions Refer to the graph below. 
-The supply of medical services in this market is
A)Elastic 
B)Inelastic 
C)Unit elastic 
D)Price elastic 
E)Infinite

Quizplus · Accepted Answer

The graph shows that the supply curve is relatively steep, indicating that an increase in price would not result in a significant increase in the quantity supplied. Therefore, the supply of medical services in this market is inelastic.

The Following Questions Refer to the Graph Below