If the Price Elasticity of Supply for a Good Is

question 66

Multiple Choice

If the price elasticity of supply for a good is equal to infinity,then the

• A)supply curve is vertical.
• B)supply curve is horizontal.
• C)supply curve also has a slope equal to infinity.
• D)quantity supplied is constant regardless of the price.

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Definitions:

Sequential Interdependence

A work process situation where the output of one task becomes the input for the next task, requiring coordination and timing between tasks.

Nominal Group Technique

A structured way for team members to generate ideas and identify solutions in which each member is asked the same question in relation to a work issue and requested to write as many answers as possible. Answers are read aloud and voted upon.

Delphi Technique

A method of decision making in which information is gathered from a group of respondents within their area of expertise.

Brainstorming

A creative group technique used to generate a large number of ideas for the solution to a problem.