A perfectly elastic supply curve is __________. a horizontal line a vertical lin

ID: 1250587 • Letter: A

Question

A perfectly elastic supply curve is __________.

a horizontal line

a vertical line

neither a horizontal nor a vertical line

A 5 percent increase in the price of sugar causes the quantity demanded to fall by 15 percent. The demand for sugar is __________.

perfectly elastic

elastic

inelastic

perfectly inelastic

unit elastic

Which statement is true about the graph in Figure 1?

Demand is perfectly elastic.

Demand is perfectly inelastic.

Demand is more elastic at point X than at point Y.

Demand is more elastic at point Y than at point X.

The advertiser wants to push her product's demand curve __________.

to the right and make it more elastic

to the right and make it less elastic

to the left and make it more elastic

to the left and make it less elastic

Figure 1

1. "1. a horizontal line" 2. "2. elastic" 3. "3. Demand is more elastic at point X than at point Y." 4. "2. to the right and make it less elastic"

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