If the Supply Curve for a Product Is Horizontal, Then

question 5

Multiple Choice

If the supply curve for a product is horizontal, then the elasticity of supply is:

• A) equal to infinity.
• B) greater than 1 but less than infinity.
• C) equal to 1.
• D) equal to zero.

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Definitions:

Missing Value

In data analysis, a data point that is absent or not recorded, which can affect the outcome of statistical models.

Decimal Places

The quantity of numerals located to the right side of the decimal point in a numeric value.

Missing Value

A data term referring to a value that is lost, unrecorded, nonexistent, or omitted in a dataset.

Decimal Places

The count of numerals found after the decimal point in a number that signifies its level of accuracy.