If sellers do not adjust their quantity supplied at all in response to a change in price, the price elasticity of supply is
a. infinity, and the supply curve is vertical.
b. infinity, and the supply curve is horizontal.
c. zero, and the supply curve is horizontal.
d. zero, and the supply curve is vertical.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “If sellers do not adjust their quantity supplied at all in response to a change in price, the price elasticity of supply is a. infinity, ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Fighting Irish Incorporated pays its employees $3,640 every two weeks ($260/day). The current two-week pay period ends on December 28, 2018, and employees are paid $3,640.
Answers (1)
Failure to pay a loan is referred to as: A. risk B. default C. line of credit D. score
Answers (2)
The difference between selling price and cost price
Answers (1)
Zang Co. manufacturs its products in a continuous process involving two departments, Machining and Assembly. The following transactions are related to production during June: (a) Materials purchased (on June 1) on account, $180,000.
Answers (1)
Suppose the supply of shaved ice is more elastic with respect to price in the long run than in the short run.
Answers (1)
New Questions in Business
A leftward shift in the long-run aggregate supply curve is most likely going to cause which of the following? A) decrease in the average price level B) increase in the average price level C) increase in real output
Answers (1)
Free market economy how are prices set?
Answers (1)
Patel Service Co. does make a few sales on account but is mostly a cash business. Consequently, it uses the direct write-off method to account for uncollectible accounts. During Year 1, Patel Service Co.
Answers (1)
Accepting a special order will improve overall net operating income if the revenue from the special order exceeds: a. the contribution margin on the order. b. the incremental costs associated with the order. c.
Answers (1)
The debit side of an account a. depends on whether the account is an asset, liability, or owner's equity b. is the left side of the account c. can be either side of the account depending on how the accountant set up the system d.
Answers (1)