If a linear supply curve has a zero intercept, the elasticity of supply is always unitary
Indicate whether the statement is true or false
True . A linear supply curve from the origin takes the form Q = ap. Elasticity equals a ? p/Q. Substituting for Q yields a ? p/ap. Numerator and denominator cancel and the elasticity equals one at every price.
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Defensive open market transactions
A) are aimed at achieving changes in monetary policy. B) are used much less frequently than dynamic open market transactions. C) are used to offset disturbances to the supply or demand for reserves. D) make it easy to deduce the Fed's intentions for monetary policy.
The federal personal income tax was designed to be a:
a. progressive tax. b. regressive tax. c. proportional tax. d. poll tax. e. payroll tax.
Corporations produce most of the output in the United States
a. True b. False Indicate whether the statement is true or false
A tax burden falls more heavily on the side of the market that is less elastic
a. True b. False Indicate whether the statement is true or false