Price (dollars) 10+ 52 8 .0 4 2 0 24 0-24 0 Quantity Figure 4.3.1 11) The two supply curves in Figure 4.3.1 are parallel. Between $7 to $8, A) S1 is more inelastic than S2. B) S1 and S2 have the same elasticity. C) S1 is flatter than S2. D) S1 is steeper than S2. E) S1 is more elastic than S2. J.

Price (dollars) 10+ 52 8 .0 4 2 0 24 0-24 0 Quantity Figure 4.3.1 11) The two supply curves in Figure 4.3.1 are parallel. Between $7 to $8, A) S1 is more inelastic than S2. B) S1 and S2 have the same elasticity. C) S1 is flatter than S2. D) S1 is steeper than S2. E) S1 is more elastic than S2. J.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter5: Elasticity

Section: Chapter Questions

Problem 7SCQ: What would the gasoline price elasticity of supply mean to UPS or FedEx?

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Question

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Price (dollars)
10+
52
8
.0
4
2
0
24
0-24
0
Quantity
Figure 4.3.1
11) The two supply curves in Figure 4.3.1 are parallel. Between $7 to $8,
A) S1 is more inelastic than S2.
B) S1 and S2 have the same elasticity.
C) S1 is flatter than S2.
D) S1 is steeper than S2.
E) S1 is more elastic than S2.
J.

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