If Supply Is Perfectly Elastic, the Supply Curve Is

question 109

Multiple Choice

If supply is perfectly elastic, the supply curve is

• A)vertical
• B)horizontal
• C)any straight-line supply curve
• D)any supply curve intersecting a perfectly elastic demand curve
• E)any supply curve intersecting a demand curve which is unit elastic

---

Definitions:

Ethics

The study of a way of life and its values, including a system of general moral principles and a conception of morality and its foundations. Sometimes the term simply refers to the study of moral principles.

Duty-Defined Morality

The view that moral right and wrong are determined first of all by a conception of a person’s duties and obligations.

Utilitarianism

An ethical theory that proposes that the best action is the one that maximizes utility, usually defined as that which produces the greatest well-being of the greatest number of people.

Virtue Ethics

The view that the central feature in the evaluation of people and their actions should be the character of the agent. Aristotle’s ethics are often described as a form of virtue ethics.