Table: Supply Curve

In the table, which supply curve is most price elastic over the range of prices considered?
A) supply curve A
B) supply curve B
C) supply curve C
D) supply curve D

Question

Table: Supply Curve

In the table, which supply curve is most price elastic over the range of prices considered?
A) supply curve A 
B) supply curve B 
C) supply curve C 
D) supply curve D

Quizplus · Accepted Answer

Supply curve C is the most price elastic because the percentage change in quantity supplied is greater than the percentage change in price over the range of prices considered. This indicates that suppliers are very responsive to changes in price and will adjust their production levels significantly in response to even small changes in price.

Table: Supply Curve In the Table, Which Supply Curve Is Most Price Elastic