If the supply curve of a good is vertical, then the elasticity of supply is:
A)equal to zero.
B)equal to one.
C)greater than one but less than infinity.
D)equal to infinity.
E)less than one.

Question

Quizplus · Accepted Answer

A vertical supply curve indicates that the quantity supplied does not respond to changes in price, meaning the elasticity of supply is equal to zero. This is because, regardless of the price, the same quantity will be supplied, and therefore there is no change in quantity supplied in response to a change in price, resulting in an elasticity of zero.

If the Supply Curve of a Good Is Vertical, Then