If the Price Elasticity of Supply Equals Zero,this Implies That

question 40

Multiple Choice

If the price elasticity of supply equals zero,this implies that:

• A)suppliers can easily change the quantity supplied of the product as the price of the product changes.
• B)the period under consideration is a very long time period.
• C)the supply curve is perfectly vertical.
• D)the percentage change in quantity supplied exceeds the percentage change in product price.
• E)the percentage change in quantity supplied equals the percentage change in product price.

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Definitions:

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