If a supply curve has a constant slope throughout its length, it must have a constant price elasticity throughout its length.
True
False
False
The slope of the supply curve represents the change in quantity supplied in response to a change in price. The price elasticity of supply, on the other hand, measures the responsiveness of quantity supplied to changes in price. A supply curve with a constant slope does not necessarily have a constant price elasticity. Price elasticity of supply can vary along the length of the curve depending on various factors such as input costs, technology, and time horizon.