The supply curve of rare collectables will be? Options: A . &nbspperfectly elastic B . &nbspperfectly inelastic C . &nbspunitary elastic D . &nbspnone of these

The supply curve of rare collectables will be?

Question

The supply curve of rare collectables will be?

Options:

A . perfectly elastic

B . perfectly inelastic

C . unitary elastic

D . none of these

Answer: Option B
:
B
The quantity of rare collectables is limited and as such, do not change with price. Hence, the supply curve would be perfectly inelastic.

Was this answer helpful ?

Next Question

Submit Solution

More Questions on This Topic :

Question 1. The minimum point of a firm's LRAC is Rs 8, at which it produces a quantity of 500. Which of the following price-qu....the following price-quantity pairs (p,q) can lie on the supply curve?

Question 2. Which of the following is not a determinant of a good's supply?....

Question 3. Study the supply curve given below and answer the following question.At what price is the producer surplus equal to $2?....question.At what price is the producer surplus equal to $2?

Question 4. The profit level that is just enough to cover the economic costs of the firm is called ___ profit.....

Question 5. The costs (LRAC) and prices (P) for four firms are given in the options below. Which of these cannot lie on the long-run....cannot lie on the long-run supply curve of a firm?

Question 6. Study the supply curve given below and answer the following question.If the quantity supplied increases from 10 to 20, t....quantity supplied increases from 10 to 20, the total revenue ________.

Question 7. The supply curve of a firm is given by the equation q=250p−250. If the price decreases by 2 units, ______....

Question 8. There are 20 identical firms in a market. At a price of Rs 20, firm 1 supplies 25 units of a good, What is the total sup....a good, What is the total supply at that price?

Question 9. Study the supply curve given below and answer the following question.If the market price is $4, the producer surplus is ....the market price is $4, the producer surplus is ________.

Question 10. A rise in the cost of inputs of production will shift the supply curve to the right. State true or false.....

Chapter 1 - GLOBAL STEEL SCENARIO & INDIAN STEEL INDUSTRY Part 1 : (13-04-2024) INDUSTRY AND COMPANY AWARENESS (ICA)

Direction Sense Test Part 1 Reasoning (Hindi)

Chapter 1 - RMHP / OHP / OB & BP Part 1 : (14-02-2024) GPOE

Cube & Cuboid Part 1 Reasoning (Hindi)

Data Interpretation (DI) Basic Concept Reasoning (Hindi)

Counting Figures Part 1 Counting Of Straight Lines Reasoning (Hindi)

Sail E0 free webinar Webinars

Real Numbers Part 7 Class 10 Maths

Real Numbers Part 1 Class 10 Maths

Polynomials Part 1 Class 10 Maths

DSP Combined 1 Free Revision Test SAIL JO E-0

GPOE / GPA Combined 1 Free Revision Test SAIL JO E-0

BSP Plant Specific Review Test SAIL JO E-0

BSL Combined 1 Free Revision Test SAIL JO E-0

GFM Combined 1 Free Revision Test SAIL JO E-0

Submit Solution

More Questions on This Topic :

Latest Videos

Latest Test Papers