If the Quantity Supplied of a Good Is Fixed at 100

question 96

Multiple Choice

If the quantity supplied of a good is fixed at 100 units at all price levels, then its price elasticity of supply is

• A)perfectly elastic.
• B)unit elastic.
• C)perfectly inelastic.
• D)zero.
• E)undefined.

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Definitions:

Individual Customers

Clients or consumers who purchase goods or services for personal use, as opposed to organizational or business clients.

Geriatric Division

A dedicated branch of a healthcare institution or service focused on the medical care and treatment of elderly patients.

Pharmaceutical Company

An enterprise that develops, produces, and markets drugs or pharmaceuticals for use as medications.

Critical Thinking

The objective analysis and evaluation of an issue in order to form a judgment, often involving clear and reasoned thinking.