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# Understanding the Elasticity of Supply Quiz

### 1. What is the elasticity of supply?

### 2. What does a higher elasticity of supply mean?

### 3. What are the factors affecting the elasticity of supply?

### 4. How is the elasticity of supply different from the elasticity of demand?

### 5. If a good has an elasticity of supply equal to 1, this means that:

### 6. If the elasticity of supply is greater than 1, this implies that the supply is:

### 7. Under what conditions will the elasticity of supply be zero?

### 8. If the elasticity of supply is less than 1 but greater than 0, this implies that the supply is:

### 9. If a supply curve is vertical, it implies that the elasticity of supply is:

### 10. If a supply curve is horizontal, it implies that the elasticity of supply is: