Card 1 of 26
A supply curve that rises steeply is what type of supply?
A
The firm can produce any amount at the same unit cost.
B
A crop this season needs a near-vertical supply curve; a factory with spare capacity needs a shallow one.
C
It shows the curve's shape, not a movement.
D
Inelastic supply.
Card 1 of 26
2.3.7 Draw supply curves of different elasticity Flashcards
26 flashcards on OCR GCSE Economics 2.3.7 Draw supply curves of different elasticity: the key terms, formulae and calculations you need to recall for Component 01 and Component 02.