If supply is price inelastic the value of the price elasticity of supply must be ?

Related Mcqs:

Suppose that at a price of Rs 30 per month there are 30000 subscribers to cable television in small Town. If small Town Cablevision raises its price Rs40 per month the number of subscribers will fall to 20000 Using the midpoint method for calculating the elasticity what is the price elasticity of demand for cable TV in Small Town ?

A. 1.4 B. 0.66 C. 0.75 D. 2.0...

Suppose that at a price of Rs 30 per month there are 30000 subscribers to cable television in small Town. If small Town Cablevision raise its price to Rs 40 per month the number of subscribers will fall to 20000 At which of the following price does small Town Cablevision earn the greatest total revenue ?

A. Rs 0 per month B. Rs 30 per month C. Rs 40 per month D. Either Rs 30 or Rs 40 per month because the price elasticity of demand is 1.0...

If demand is linear (a straight line) then price elasticity of demand is ?

A. elastic in the upper portion and inelastic in the lower portion B. inelastic in the upper portion and elastic in the lower portion C. inelastic throughout D. constant along the demand curve...

If consumers think that there are very few substitutes for a good, then ?

A. Supply would tend to be price elastic B. none of these answers C. demand would tend to be price inelastic D. demand would tend to be price elastic...

If the income elasticity of demand for a good is negative it must be ?

A. an elastic good B. an inferior good C. a normal good D. a luxury good...