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Types of Elasticity

what is the p...

Question

what is the price elasticity associated with a straight line supply curve passing through the origin?

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Solution

A straight line supply curve passing through the origin has a unitary value of elasticity of supply.

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What will be the price elasticity of supply if the supply curve is a positively sloped straight line?

Q. Write True or False with a reason.
If a straight line upward sloping supply curve shoots from the origin, elasticity of supply is always equal to one.

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If elasticity of supply

= 0

, supply curve becomes a horizontal straight line.

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If a straight line upward sloping supply curve shoots from the Y-axis, elasticity of supply

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Why is the total revenue curve of a price-taking firm an upward sloping straight line? Why does the curve pass through the origin?

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