If the Supply Curve Is a Vertical Line, It Means

question 76

Multiple Choice

If the supply curve is a vertical line, it means that

• A) regardless of price, the quantity supplied is a constant amount.
• B) regardless of quantity, the price is a constant amount.
• C) the good is inferior.
• D) the good has many substitutes.

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Definitions:

Due Diligence Defense

A legal defense where a defendant shows that they have taken all necessary steps to avoid violating the law, usually in relation to investments or financial transactions.

Material Omissions

Failure to disclose important information that results in presenting a misleading picture of the facts.

Penalties

Punishments or fines imposed for breaking a law, rule, or contract.

Inflation-adjusted Amount

A monetary value converted to reflect changes in purchasing power due to inflation, ensuring comparison over time is more accurate.