Macroeconomics
How does the slope of a supply curve relate to its elasticity when comparing two supply curves?
What does a perfectly inelastic supply curve look like on a graph?
Why is a supply curve that cuts through the origin considered unit elastic?
What is the market implication of a perfectly elastic supply curve when demand decreases?
If a supply curve intersects the price axis, what can be inferred about its elasticity?
Which of the following best describes a perfectly elastic supply curve?
How can you identify an elastic supply curve on a graph?
What does a perfectly elastic supply curve look like on a graph?
If a supply curve intersects the quantity axis, what can be inferred about its elasticity?
How can you identify a perfectly inelastic supply curve on a graph?
