Explanation A perfectly inelastic supply curve would be vertical because quantity which is supplied is same or stable regardless of price. Therefore, the correct option is d. Concept Introduction: A supply curve shows a graphical representation of relationship between price and quantity supply that represents how change in supply affects the price of the good.

3rd Edition

ISBN: 9781319113278

Author: David Anderson, Margaret Ray

Publisher: Worth Publishers

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Question

Chapter 48, Problem 4MCQ

To determine

The position of perfectly inelastic supply curve

Expert Solution & Answer

Explanation of Solution

A perfectly inelastic supply curve would be vertical because quantity which is supplied is same or stable regardless of price.

Therefore, the correct option is d.

Economics Concept Introduction

Introduction:

A supply curve shows a graphical representation of relationship between price and quantity supply that represents how change in supply affects the price of the good.

Chapter 48, Problem 3MCQ

Chapter 48, Problem 5MCQ

Chapter 48 Solutions

Krugman's Economics For The Ap® Course

Ch. 48 - Prob. 1CYU Ch. 48 - Prob. 2CYU Ch. 48 - Prob. 3CYU Ch. 48 - Prob. 1MCQ Ch. 48 - Prob. 2MCQ Ch. 48 - Prob. 3MCQ Ch. 48 - Prob. 4MCQ Ch. 48 - Prob. 5MCQ Ch. 48 - Prob. 6MCQ Ch. 48 - Prob. 7MCQ

Ch. 48 - Prob. 1FRQ Ch. 48 - Prob. 2FRQ

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