Price Elasticity of Supply Is Perfectly Inelastic If the Coefficient

question 72

Multiple Choice

Price elasticity of supply is perfectly inelastic if the coefficient of price elasticity of supply is

• A)infinity.
• B)1.
• C)0.
• D)-1.

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Definitions:

Validity

The extent to which a concept, conclusion, or measurement is well-founded and corresponds accurately to the real world.

Distributed

Spread out or dispersed over a wide area or among a large number of people.

Enthymeme

A rhetorical argument that is comprised of a premise and a conclusion but leaves one premise unstated.

Validity

The characteristic of possessing factual or logical robustness; in the realm of logic, it denotes a situation where true premises inevitably lead to a true conclusion.