A Hotel Has a Capacity of 100 Rooms in the Short

question 272

Multiple Choice

A hotel has a capacity of 100 rooms in the short run. Which of the following statements best describes the short-run elasticity of supply for rooms at this hotel?

• A) The supply is elastic at quantities above 100 rooms but inelastic at quantities below 100 rooms.
• B) The elasticity of supply is equal to 1 in the short run but infinitely elastic in the long run.
• C) The elasticity of supply is zero in the short run because the short-run supply curve is vertical.
• D) The supply is infinitely elastic in the short run but perfectly inelastic in the long run.

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