The following statement supply curve A is perfectly elastic and supply curve B is perfectly inelastic are correct.
Explanation:
If there is no response from demand to prices and supply curve is vertical then the supply is perfectly inelastic.If there is more change in demand and very less change in price and supply curve is horizontal then the supply is perfectly elastic.
If the elasticity is greater than one that indicates high change in price known as Elastic supply. if the Elasticity is less than one that indicates low change in price then it is said to be Inelastic supply.
A work that is created in small scale can communicate intimacy.
Answer:
0.403ft/day
Explanation:
Area = 250 miles = 250 × 5280^2= 6.9696e9 ft
Rise per sec = (Flow in - Flow out)/Area of lake = (40,000 - 7,500)/(6.9696e9) = 4.663e-6ft/s
Therefore in 24 hours = 4.663e-6 × 3600 × 24 = 0.403ft/day
Now the supply chain flexibility is based make to order strategy, low volumes, low switching costs and low stocks.
