Below are two supply curves with differing elasticities. First, move point A to the perfectly inelastic supply curve and point B to the perfectly elastic supply curve. Next, place each characteristic of supply curves in the appropriate category.Perfectly inelasticPerfectly elasticAnswer BankA shift in demand will not elicit a change in quantity supplied.A shift in demand will elicit a large response in quantity supplied.Quantity supplied does not respond to changes in price.Quantity supplied is
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