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Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364

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BuyFindarrow_forward

Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364
Textbook Problem

Can you think of an industry (or product) with near infinite elasticity of supply in the short term? That is, what is an industry that could increase Qs almost without limit in response to an increase in the price?

To determine

Provide the names of the industry or products which have infinite elasticity of supply in the short run.

Explanation

The infinite elasticity of supply means when the supply curve is horizontal and parallel to x-axis. Then we can say that the elasticity of supply is infinite...

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