A Value of Infinity for the Elasticity of Supply of Some

question 124

Multiple Choice

A value of infinity for the elasticity of supply of some product implies that

• A)the supply curve is horizontal.
• B)supply is very unresponsive to price.
• C)the supply curve is vertical.
• D)the product will be supplied at any price.
• E)no product will be supplied at any price.

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Definitions:

Fatty Acid

Long chain hydrocarbons with a terminal carboxyl group, which are components of many types of lipids (fats and oils).

Alcohol

A compound consisting of carbon, hydrogen, and oxygen, commonly used in beverages, antiseptics, and fuels.

Linoleic Acid

A polyunsaturated omega-6 fatty acid, essential for human health, found in many vegetable oils.

Stearic Acid

A saturated fatty acid with the formula C18H36O2, found in various animal and vegetable fats, and used in making soaps and cosmetics.