If a fisher must sell all of his daily catch before it spoils for whatever price he is offered once the fish are caught the fisherman's price elasticity of supply for fresh fish is ?
Correct answer: A. zero
- A. zero
- B. infinite
- C. one
- D. unable to be determined form this information
Explanation
After the catch is made, its quantity cannot be increased in response to a higher price because the fish must be sold before spoiling. A fixed quantity supplied has zero price elasticity of supply.
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