If the Price Elasticity of Supply Is Zero,then

question 29

Multiple Choice

If the price elasticity of supply is zero,then

• A)supply is more elastic than it is in any other case.
• B)the supply curve is horizontal.
• C)the quantity supplied is the same,regardless of price.
• D)a change in demand will cause a relatively small change in the equilibrium price.

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Definitions:

Downtime

The period during which an operation, system, or machine is not functional or productive.

Just-In-Time (JIT)

Continuous and forced problem solving via a focus on throughput and reduced inventory.

Inventory

A company's stock of goods, materials, and products held to fulfill future sales or production needs.

Product-Based Definition

Characterization of a product strictly in terms of its physical attributes and features.