39. Which of the following statements about the price elasticity of supply in th

Question

39. Which of the following statements about the price elasticity of supply in the Sudanese slave trade is correct? A) When the supply curve is more elastic, every slave bought by the redeemers is one fewer slave held in captivity. B) When the supply curve is perfectly inelastic, every slave bought by the redeemers is one fewer slave held in captivity. C) When the supply curve is less elastic, every slave bought by the redeemers is one additional enslaved person. D) When the supply curve is more inelastic, every slave bought by the redeemers is one additional enslaved person.

Explanation / Answer

B) When the supply curve is perfectly inelastic, every slave bought by the redeemers is one fewer slave held in captivity

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