Consider the polar case where the supply curve is perfectly elastic. Use the line drawing tool to draw a perfectly elastic supply curve. Label this line 'S'. Carefully follow the instructions above, and only draw the required objects. The price elasticity of supply when supply is perfectly elastic is

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Author:Roger A. Arnold
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Chapter19: Elasticity
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**Topic: Perfectly Elastic Supply Curve**

**Text:**
Consider the polar case where the supply curve is perfectly elastic.

Use the line drawing tool to draw a perfectly elastic supply curve. Label this line 'S'.

Carefully follow the instructions above, and only draw the required objects.

The price elasticity of supply when supply is perfectly elastic is [dropdown menu].

**Graph Explanation:**

- The graph is a standard Price vs. Quantity plot.
- The x-axis represents Quantity.
- The y-axis represents Price.
- A perfectly elastic supply curve would appear as a horizontal line on this graph.
- The line tool mentioned is intended to illustrate this concept by allowing users to draw and label the curve as 'S'.
Transcribed Image Text:**Topic: Perfectly Elastic Supply Curve** **Text:** Consider the polar case where the supply curve is perfectly elastic. Use the line drawing tool to draw a perfectly elastic supply curve. Label this line 'S'. Carefully follow the instructions above, and only draw the required objects. The price elasticity of supply when supply is perfectly elastic is [dropdown menu]. **Graph Explanation:** - The graph is a standard Price vs. Quantity plot. - The x-axis represents Quantity. - The y-axis represents Price. - A perfectly elastic supply curve would appear as a horizontal line on this graph. - The line tool mentioned is intended to illustrate this concept by allowing users to draw and label the curve as 'S'.
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