If an increase in the supply of a product results in a decrease in the price, but no change in the actual quantity of the product exchanged, then: A) the price elasticity of supply is zero. B) the price elasticity of supply is infinite. C) the price elasticity of demand is unitary. D) the price elasticity of demand is zero.

If an increase in the supply of a product results in a decrease in the price, but no change in the actual quantity of the product exchanged, then: A) the price elasticity of supply is zero. B) the price elasticity of supply is infinite. C) the price elasticity of demand is unitary. D) the price elasticity of demand is zero.

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter19: Elasticity

Section: Chapter Questions

Problem 3QP: Prove that price elasticity of demand is not the same as the slope of a demand curve.

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If an increase in the supply of a product results in a decrease in the price, but no
change in the actual quantity of the product exchanged, then:
A) the price elasticity of supply is zero.
B) the price elasticity of supply is infinite.
C) the price elasticity of demand is unitary.
D) the price elasticity of demand is zero.

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