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When a supply curve is relatively flat, the
A. sellers are not at all responsive to a change in price.
B. equilibrium price changes substantially when the demand for the good changes.
C. supply is relatively elastic.
D. supply is relatively inelastic.

Ā 

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Chika Ilonah
Chika IlonahLv10
9 Oct 2020
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Related questions

The tax burden will fall most heavily on buyers of the good when the demand curve:

A. is relatively steep, and the supply curve is relatively flat

B. is relatively flat, and the curve is relatively steep

C. and the supply curve are both relatively flat

D. and the supply curve are both relatively steep

The change in price from a leftward shift of the supply curve will be greater if

a. The demand curve is relatively steep than if the demand curve is relatively flat

B. The demand curve is relatively flat than if the demand curve is relatively steep

C. The demand curve is horizontal than if the demand curve is vertical

d. The demand curve is horizontal than if the demand curve is downward sloping

2. Suppose that anti-smoking campaigns convince a large number of people to quit smoking. A decrease in the demand for cigarettes will: (a) decrease total revenue collected by cigarette sellers only if the demand for cigarettes is relatively more inelastic than the supply of cigarettes. (b) increase total revenue collected by cigarette sellers only if the supply of cigarettes is relatively more inelastic than the demand for cigarettes. (c) decrease total revenue collected by cigarette sellers. (d) have no effect on the revenue collected by cigarette sellers.

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