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 : Experiencing the Diminishing Marginal

James has watched a latest blockbuster film twice a week for the precedent three weeks and can now narrate most of the dialogue. He is probably starting to experience: (1) Disequilibrium. (2) Diminishing the marginal utility. (3) Diminished capacity. (4) Clinical depr

Q : Income Distribution by Marginal

As per the marginal productivity theory of income distribution, within a system of market capitalism, in that case income is distributed primarily in accord along with: (1) resource productivity and ownership. (2) how

Q : When is the DVD sale increased most

DVD sales are most probably to rise over the long run when the: (w) supply of live entertainment rises. (x) government imposes stiff taxes upon video tapes. (y) technology carries on to advance. (z) prices of theater tickets fall.

Q : Probability of Law of Diminishing

Can someone help me in finding out the right answer from the given options. Karina gets 27 utils from her first ice-cream cone in an hour, and 23 extra utils from the second that hour. Determine the number of utils is she likely to obtain from the third cone? (i) 15 u

Q : Consumers and corrupt governmental

I have a problem in economics on Consumers and corrupt governmental processes. Please help me in the following question. John Kenneth Galbraith believes that the big corporations: (1) Must be broken up to the foster competition. (2) Manipulate the con

Q : Comparison of competitive and

If compared to competitive advertising, in that case informative advertising tends to: (1) help consumers make more satisfying choices. (2) be a waste of resources. (3) increase transaction costs. (4) be less efficient than competitiv

Q : Average cost of producing level of

When the hourly wage rate (w) of $15 and the hourly price of capital (r) of $75, the average cost of producing any specified level of output into the long run will be minimized where: (1) MPPL = MPPK. (2) MPPL/MPPK =

Q : Aggregate effective demand Why,

Why, according to Keynes, is investment the key economic variable? Why does he think that the volatility of investment spending is likely to cause a problem of aggregate effective demand? Why does he think that this problem can only be solved by government interventio

Q : Theory of the Firm The advantages that

The advantages that firms confer on society do not comprise: (i) Decreasing the transaction costs. (ii) Raising consumer purchasing power. (iii) Facilitating the specialization in production. (iv) Raising the consumer demand. (v) Boosting the national income.

Q : Economic profit of purely-competitive

This purely-competitive lumber mill experiences on the average day is an: (w) economic profit of about $340. (x) economic loss of roughly $150. (y) accounting profit of less than $300. (z) accounting loss of more than $100.

Discover Q & A

Leading Solution Library

Avail More Than 1414788 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1924199
Asked

3,689

Active Tutors

1414788

Questions
Answered

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

Submit Assignment