A vertical supply curve can be described as
A) perfectly elastic.
B) perfectly inelastic.
C) unitary elastic.
D) relatively elastic.
E) relatively inelastic.

Question

Quizplus · Accepted Answer

A vertical supply curve represents a situation where the quantity supplied is fixed at a certain level, regardless of changes in price. In other words, supply is perfectly inelastic. This can occur, for example, when there is a limited supply of a resource or when production is constrained by capacity limitations.

A Vertical Supply Curve Can Be Described as