A Perfectly Inelastic Supply Curve Is A

question 10

Multiple Choice

A perfectly inelastic supply curve is a:

• A) vertical line indicating that a very large increase in price will increase the quantity supplied.
• B) vertical line indicating that even a very large increase in price won't increase the quantity supplieB.
• C) horizontal line indicating that a very small increase in price will increase the quantity supplieC.
• D) horizontal line indicating that even a very small increase in price won't increase the quantity supplied.

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Definitions:

Consumer's Want

The desires or needs that influence a consumer's decision to purchase a product or service.

Small Business Owners

Individuals who own and operate businesses that are typically smaller in scale in terms of revenue, employees, and operations.

Business Running

The day-to-day operations and management of a business to ensure it functions efficiently and meets its goals.

Capital Equipment Assets

Long-term physical assets purchased for manufacturing, production, or other business operations.