--%>
Assignment Help - homework help

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.

   Related Questions in Microeconomics

  • Q : When is demand perfectly price inelastic

    Demand is perfectly price inelastic when the quantity demanded for Pixie’s cheesy fried grits is of: (w) zero. (x) P4. (y) P2. (z) More information is required.

    Q : Farm employment Over the past several

    Over the past several decades, farm employment has: A) grown absolutely, but declined as a percentage of total employment. B) declined both absolutely and as a percentage of total employment. C) increased both absolutely and as a percentage of total employment. D) dec

    		•
  • Q : Income of consumer-consequence on

    Income of consumer: In case of normal good - Increase in income leads to rise in quantity demanded of a normal good and reduce in income leads to reduction in quanti

    		•
  • Q : Price elasticity for quantities and

    Suppose that all these curves are infinitely long straight lines. There supply curve which is relatively (although not perfectly) price elastic for all quantities and prices is: (1) supply curve S1. (2) supply curve S2. (3) suppl

    		•
  • Q : Unitarily price elasticity demand for

    When milk prices increase from $2 to $3 per gallon and sales fall by 600,000 gallons to 400,000 gallons monthly, then demand for milk is: (w) relatively price elastic. (x) unitarily price elasticity. (y) a 45 degree, negatively sloped

    		•
  • Q : Relationship between APP-MPP If APP is

    If APP is at its maximum, then what is the relationship among MPP and APP? Answer: MPP = APP

    		•
  • Q : Price of related goods-consequence on

    Price of related goods: a) Substitute goods – Whenever the price of substitute goods raises they become dearer whenever the price replaces goods falls they bec

    		•
  • Q : Competitive equilibration processes

    When a purely competitive industry is within long-run equilibrium and consumer demand then raises, the short-run industry quantity supplied and equilibrium price would tend to: (w) fall. (x) rise. (y) remain similar. (z) swing up and

    		•
  • Q : Value of the marginal product of labor

    The Profit-maximizing firms which operate in the competitive resource and output markets adjust the labor inputs till the wage rate equivalents the: (i) Average revenue from the output. (ii) Output price equivalents the average variable cost. (iii) Marginal utility of

    		•
  • Q : History-AFL-CIO The amalgamation of

    The amalgamation of American Federation of Labor, representing the craft unions and the Congress of Industrial Unions, representing the industrial unions, happened in: (i) 1955. (ii) 1960. (iii) 1970. (iv) 1965. (v) 1975. Find out

    		•