If Supply Is Perfectly Elastic, the Price Elasticity of Supply

question 189

Multiple Choice

If supply is perfectly elastic, the price elasticity of supply is equal to

• A) 1.
• B) 0.
• C) infinity.
• D) a positive number between 0 and infinity.

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Definitions:

Non-Christian World

Regions or societies where Christianity is not the predominant religion, including a broad range of religious and cultural traditions.

Western Hemisphere

The half of the Earth that lies west of the Prime Meridian and east of the antimeridian, including the Americas and parts of Europe, Africa, and Antarctica.

Columbian Exchange

The widespread transfer of plants, animals, culture, human populations, technology, and ideas between the Americas and the Old World following Columbus's voyages.

Tomatoes

Edible, often red, fruit of the plant Solanum lycopersicum, commonly used in cooking and eaten in a variety of ways worldwide.