If the Price Elasticity of Supply Equals Zero, This Implies

question 47

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.

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Definitions:

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A period of time that is yet to come, beyond the present moment.

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