If a country imports a small fraction of the world's supply, we expect it to face
A. an upward-sloping residual supply curve.
B. a nearly perfectly elastic, horizontal residual supply curve.
C. The type of supply curve it faces cannot be determined.
a nearly perfectly inelastic, vertical residual supply curve.
Suppose that the market supply elasticity,
\eta =0.3
, the demand elasticity in other countries,
\epsi _(0)=-1.2
, and that the United States' share of world rice out 10.0%.
Its residual supply elasticity '
\eta _(' )
' is
◻
(round your answer to one decimal place).