A value of zero for the elasticity of supply of some product implies that
A) the supply curve is horizontal.
B) supply is highly responsive to price.
C) the product will not be supplied at any price.
D) there is no supply.
E) the supply curve is vertical.
Ans: E) the supply curve is vertical.
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The marginal physical productivity of labor is:
a. the slope of the total output curve at the relevant point. b. the negative of the slope of the total output curve at the relevant point. c. the slope of the line connecting the origin with the relevant point on the total output curve. d. the negative of the slope of the line connecting the origin with the relevant point on the total output curve.