Economics · Microeconomics
The price elasticity of supply is defined as unitary elastic when the:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Quantity supplied remains completely unchanged regardless of price changes
- 2Supply curve is a vertical straight line parallel to the price axis
- 3Supply curve is a horizontal straight line parallel to the quantity axis
- 4Percentage change in quantity supplied equals the percentage change in price✓
Correct answer
Percentage change in quantity supplied equals the percentage change in price
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