Asked by
harshita singh
on Dec 11, 2024
Verified
If the quantity of a good supplied is not very sensitive to the price of the good, this is illustrated by a
A) demand curve that is relatively flat (more horizontal) .
B) demand curve that is relatively steep (more vertical) .
C) supply curve that is relatively flat (more horizontal) .
D) supply curve that is relatively steep (more vertical) .
Supply Curve
A graphical representation of the relationship between the price of a good and the quantity of the good supplied.
Demand Curve
A graphical representation showing the inverse relationship between the price of a good or service and the quantity demanded by consumers.
- Master the essence of elasticity related to both demand and supply aspects.
Verified Answer
NB
Learning Objectives
- Master the essence of elasticity related to both demand and supply aspects.