if you want to remove an article from website contact us from top.

    a vertical supply curve indicates an elasticity of supply that equals

    Mohammed

    Guys, does anyone know the answer?

    get a vertical supply curve indicates an elasticity of supply that equals from screen.

    Choose the correct answer.When the supply curve is vertical the elasticity of supply is?

    Click here👆to get an answer to your question ✍️ Choose the correct answer.When the supply curve is vertical the elasticity of supply is?

    Choose the correct answer.

    Question

    When the supply curve is vertical the elasticity of supply is?

    A

    es=1

    B

    es>1

    C

    es=0

    D

    es=∞

    Medium Open in App

    स्रोत : www.toppr.com

    A vertical supply curve A) implies an elasticity of supply equal to infinity. B) indicates that suppliers are unwilling to produce the good. C) implies an elasticity of supply equal to zero. D) is impossible except in the long run. E) indicates a sho

    Answer to: A vertical supply curve A) implies an elasticity of supply equal to infinity. B) indicates that suppliers are unwilling to produce the...

    Elasticity (economics)

    A vertical supply curve A) implies an elasticity of supply equal to infinity. B) indicates that...

    A vertical supply curve A) implies an elasticity of supply equal to infinity. B) indicates that... Question:

    A vertical supply curve

    A) implies an elasticity of supply equal to infinity.

    B) indicates that suppliers are unwilling to produce the good.

    C) implies an elasticity of supply equal to zero.

    D) is impossible except in the long run.

    E) indicates a shortage of the good.

    Supply Curve:

    The term supply curve refers to the upward sloping curve that depicts a positive relationship between the product price and the quantity supplied at different periods of time.

    Answer and Explanation:

    Become a Study.com member to unlock this answer! Create your account

    View this answer

    The correct option is C. Implies an elasticity of supply equal to zero.

    When the supply curve is vertical then it means the changes in the price level...

    See full answer below.

    Become a member and unlock all Study Answers

    Start today. Try it now

    Create an account

    Ask a question

    Our experts can answer your tough homework and study questions.

    Ask a question

    Search Answers

    Learn more about this topic:

    Price Elasticity of Supply in Microeconomics

    from

    Chapter 2 / Lesson 14

    10K

    Understand what elasticity of supply is. Learn more about price elasticity of supply. Know about elastic and inelastic supply with some elastic supply examples.

    Related to this Question

    Related Answers Related Lessons Related Courses

    If the price of a good decreases and the total...

    If the elasticity of supply of a product is...

    Using the supply data in the following...

    The demand curve is: QD = 10,000 - 10P. a....

    Explore our homework questions and answers library

    Browse by subject

    स्रोत : study.com

    What Happens When the Market Supply Curve Is Vertical?

    A market supply curve is a line drawn on a graph that represents the supply of a particular good or service. It is often used in conjunction with a demand curve. The point at which the supply and demand curves meet is considered the equilibrium price, or the perfect price for supply and demand of that product. Supply ...

    What Happens When the Market Supply Curve Is Vertical?

    by Jennifer VanBaren

    Published on 26 Sep 2017

    A market supply curve is a line drawn on a graph that represents the supply of a particular good or service. It is often used in conjunction with a demand curve. The point at which the supply and demand curves meet is considered the equilibrium price, or the perfect price for supply and demand of that product. Supply curves are rarely vertical, but when they are, it represents a fixed quantity of supply on that product.

    description of a market supply curve

    A market supply curve is represented on a graph where the price of a good runs vertically on the side of the graph and quantity runs horizontally. A supply curve usually runs upward to the right, which illustrates that when prices increase, manufacturers are willing to supply more of that good.

    description of a demand curve

    A demand curve is just the opposite. It generally runs upward to the left and illustrates that as prices decrease consumers demand more of that product. The equilibrium price is where the two lines intersect, and it represents the right price of the good so that supply and demand are equal.

    vertical curve

    A vertical market supply curve is illustrated by a line running up and down on the graph. When a market supply curve is vertical, it represents that the quantity of that good is fixed no matter what the price of the good is. A vertical curve illustrates a good that has zero elasticity. The good is always there, but no matter how much a person is willing to pay, extra amounts of that good cannot be created. Land is an example of a good with a vertical supply curve.

    near vertical curve

    A supply curve that is nearly vertical is a more common occurrence than a vertical supply curve. This can be illustrated using a sporting event. If a major game is occurring, the number of tickets available, or the supply, cannot be increased. There are only a limited number of tickets available. The owners of the stadium must analyze what the demand for the tickets will be in order to sell them for the right price. If they sell them too cheap, they risk losing profits. If they place the price too high, they might not sell all the tickets. In this case though, the supply is slightly related to the demand.

    What Is a Horizontal Demand Curve?

    by David Rodeck

    Published on 26 Sep 2017

    The demand curve of a market represents the responsiveness of consumers to price changes to a good. The flatter the slope of a demand curve, the higher the responsiveness in quantity demanded for a price change. A horizontal demand curve is used to represent a demand curve with a slope of zero. A change of price is impossible in this market due to the market competition and perfect substitution between suppliers.

    demand curve

    The quantity demanded of a good is the amount a market wants to purchase of a good at a certain price. There is an inverse relationship between price and quantity demanded. A price increase will lower demand and a price decrease will increase demand. This relationship is plotted on the demand curve. The demand curve is a negatively sloped curve to illustrate the inverse relationship between price and quantity demanded. On the demand curve graph, price is on the vertical (Y) axis and quantity is on the horizontal (X) axis.

    price elasticity of demand

    The price elasticity of demand is a calculation to measure the percentage change in quantity demanded caused by a change in price. Elasticity is calculated by dividing the percentage change in quantity by the percentage change in price. A curve with elasticity greater than one is considered elastic, whereas a curve with elasticity less than one is considered in inelastic. Elastic goods are more responsive to price changes than inelastic goods.

    horizontal demand curve

    The flatter the slope of a demand curve, the higher its relative elasticity. This is seen on the demand curve graph, as a flatter curve will show a much greater change to quantity for a small change on the price versus a steep curve. A horizontal demand curve is a flat curve with a slope of zero. It is a perfectly elastic demand curve. Because the slope of the curve is zero, it is impossible for the price to change in the market.

    practical significance

    A horizontal demand curve is used to represent a market where consumers have a choice between a large group offering a nearly identical product. The easy substitution between suppliers prevents prices from being raised because consumers will flock to a competitor. Prices cannot drop, either, because an under-priced good would receive a flock of new customers, raising costs and prices. A perfectly elastic and horizontal demand curve does not exist in real life but is used to better understand highly competitive markets.

    An Explanation of the Supply & Demand Curve

    by Rose Johnson

    Published on 21 Jul 2017

    Economists often use the supply and demand of goods and services to explain market prices. Supply and demand curves are graphs used to show the relationship of the supply and demand of a product. The model produced by graphing the supply and demand curves is one of the fundamental concepts within economics. The market price, commonly called the price equilibrium, of goods is where the supply and demand curves intersect.

    स्रोत : bizfluent.com

    Do you want to see answer or more ?
    Mohammed 6 month ago
    4

    Guys, does anyone know the answer?

    Click For Answer