As the Price Elasticity of Supply Approaches Infinity,very Small Changes

question 86

Multiple Choice

As the price elasticity of supply approaches infinity,very small changes in price lead to

• A)very large changes in quantity supplied.
• B)very small changes in quantity supplied.
• C)no change in quantity supplied.
• D)None of the above is correct.

---

Definitions:

Approaches

Various methods or strategies employed to tackle problems, execute tasks, or achieve goals.

Skimming Strategy

A pricing strategy that involves setting a high price when introducing a new product or service to "skim" maximum revenues layer by layer from segments willing to pay a high price.

Innovative Product

A new or significantly improved product, service, or technology that meets a new requirement or serves a new market, often resulting in enhanced efficiency, convenience, or performance.