If Sellers Respond to Very Small Changes in Price by Adjusting

question 23

Multiple Choice

If sellers respond to very small changes in price by adjusting their quantity supplied by extremely large amounts,the price elasticity of supply approaches

• A)zero,and the supply curve is horizontal.
• B)zero,and the supply curve is vertical.
• C)infinity,and the supply curve is horizontal.
• D)infinity,and the supply curve is vertical.

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Definitions:

Nonhuman Species

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Coalitions

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Intuition

The ability to understand or know something immediately, without the need for conscious reasoning—a 'gut feeling'.