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Quiz
Related Lesson
Elasticity of Supply: Do Gun Buybacks Work?
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Knowledge Check
Question 1 of 4
Which of the following reasons best describes why the supply of guns in Peekskill, NY is perfectly elastic?
a.
The supply of guns is very limited in Peekskill.
b.
It is difficult to increase the supply of guns in Peekskill.
c.
The quantity of guns supplied is not affected by the market price of guns.
d.
The supply of guns in Peekskill can easily fluctuate due to easy access to a larger, nation-wide gun market.
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Related Courses
Course
Principles of Microeconomics
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