Suppose that the demand curve for soybeans

问题单项选择题

Suppose that the demand curve for soybeans shifts such that the equilibrium price of soybeans decreases 58 percent. At the new equilibrium price, the quantity that soybean suppliers are willing to provide decreases by 3 percent. Which of the following most accurately describes the elasticity of supply for soybeans Elasticity of supplyRelative elasticity（）

A. -0.05 Elastic

B. +0.05 Inelastic

C. +19.33 Inelastic

答案

参考答案：B

解析：

A perfectly inelastic supply curve is vertical (elasticity =0). In this case, the elasticity of supply is close to zero. Therefore the supply of soybeans is relatively inelastic.