Figure 5-6Refer to Figure 5-6. Along which of these segments of the supply curve is supply least elastic?

Question

BlackTom AI · Accepted Answer

The question asks which segment of the supply curve is least elastic, meaning which segment shows the smallest responsiveness of quantity supplied to a change in price.
In a typical upward-sloping supply curve, the steepness of the curve reflects elasticity: steeper sections imply that quantity changes only a little when price changes, i.e., lower elasticity, while flatter sections imply higher elasticity.
Looking at the figure, the segment from G to H is the steepest portion of the curve, indicating that percentage changes in quantity supplied are small relative to price changes there. In contrast, the earlier segments (such as between A and B or B and C) appear flatter, meaning they would be more elastic.
Therefore, the segment GH has the least elasticity because its steep slope signals a limited quantity response to price changes.
Note: If other segments were listed (e.g., AB, BC, CD, etc.), they would generally be more elastic than GH unless they are equally steep, but GH stands out as the least responsive portion on this curve.

Figure 5-6Refer to Figure 5-6. Along which of these segments of the supply curve is supply least elastic?

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