Explain about supply curve

A supply curve which is: (i) vertical is perfectly price elastic. (ii) horizontal is perfectly price inelastic. (iii) linear and goes through the origin has a price elasticity of one. (iv) rectangularly hyperbolic is also unitarily elastic. (v) trapezoidal is infinitely elastic.

Please guys help to solve this problem of economics with some explanation.

View Complete Question

Related Questions in Microeconomics

Q : Prices and outputs in the short run All

All output markets which are less than purely competitive are characterized through: (1) domination of the market by some large firms. (2) individual firms that are very small to affect their prices. (3) freedom of entry and exit in the long run. (4)

Q : Profits or losses at wholesale price on

When the wholesale price per bushel of peaches is $9, Cling Peach Orchards would be probably to break even when its peach orchard produced approximately: (i) 2000 bushels of peaches. (ii) 2500 bushels of peaches. (iii) 3000 bushels of

Q : Problem on Substitute Goods Can someone

Can someone help me in finding out the right answer from the given options. The substitute goods are: (i) Usually consumed altogether. (ii) Inferior to luxury goods. (iii) Generally free goods. (iv) Replacements for each other.

Q : Economic what is the Production

what is the Production possibility frontier

Q : Charge price similar to marginal cost

When a profit-maximizing monopolist who does not price discriminate charges a price equal to its marginal cost, this will: (w) minimize average cost and generate zero economic profit. (x) minimize average cost and gen

Q : International market for auto industry

The international market for the auto industry in the 21st century is probably best described as a blend of: (1) pure and monopolistic competition. (2) monopolistic competition and oligopoly. (3) oligopoly and cartel. (4) technological obso

Q : Average cost per unit of production

When Prohibition Corporation maximizes profit within its production of St. Valentine’s Day software, there average cost per unit of it produced will be roughly: (i) $4 per copy. (ii) $10 per copy. (iii) $18 per copy. (iv) $24 per copy. (v) $32 per copy.

Q : Negative slope of market-Law of demand

I have a problem in economics on Negative slope of market-Law of demand. Please help me in the following question. The negative slope of the market demand curves for normal goods areleast persuaded by: (i) Diminishing marginal utility. (ii) Inco

Q : Consumers for Mortgage Funds Not in

Not in between the total demands for loanable funds would be the demands of: (1) consumers for financial capital. (2) business firms for financial capital. (3) government for loanable funds to cover budget deficits. (4) consumers for mortgage funds. (

Q : Question on production possibilities

Refer to the given diagram. Which of the following positions relative to PP1 would be the most likely to result in a future production possibilities curve of PP3, rather than PP2 ? 1) A. 2) B. 3) C. 4) D.

Discover Q & A

Leading Solution Library

Avail More Than 1426795 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1949210
Asked

3,689

Active Tutors

1426795

Questions
Answered

Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

Submit Assignment