Questions: If the price elasticity of supply for plastic is 0.99 , then the price elasticity of supply for plastic is perfectly elastic. relatively inelastic. unit elastic. perfectly inelastic. relatively elastic.

The answer is the last one: relatively elastic.

Explanation for each option:

1. Perfectly elastic: This would mean that the price elasticity of supply is infinite, indicating that any small change in price would result in an infinitely large change in quantity supplied. Since the given elasticity is 0.99, this option is incorrect.

2. Relatively inelastic: This would mean that the price elasticity of supply is less than 1, indicating that the quantity supplied is not very responsive to price changes. Since 0.99 is very close to 1 but still less than 1, this option might seem plausible but is not the best fit.

3. Unit elastic: This would mean that the price elasticity of supply is exactly 1, indicating that the percentage change in quantity supplied is exactly equal to the percentage change in price. Since the given elasticity is 0.99, this option is incorrect.

4. Perfectly inelastic: This would mean that the price elasticity of supply is 0, indicating that the quantity supplied does not change at all in response to price changes. Since the given elasticity is 0.99, this option is incorrect.

5. Relatively elastic: This would mean that the price elasticity of supply is greater than 1, indicating that the quantity supplied is quite responsive to price changes. Although 0.99 is slightly less than 1, it is very close to 1, suggesting that the supply is relatively elastic, but not perfectly so. This is the best fit among the given options.

Summary: The price elasticity of supply for plastic, given as 0.99, indicates that the supply is relatively elastic.