Which of the Following Statements Is FALSE

question 36

Multiple Choice

Which of the following statements is FALSE?

• A) A perfectly inelastic supply curve is vertical.
• B) The supply curve is more elastic in the long run than in the short run.
• C) Products that take a long time to produce, such as decades-aged Scotch whiskey, have supply curves that are less responsive to price changes.
• D) The supply curve of oil is more inelastic in Texas than it is globally.

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Definitions:

Internal Change Agents

Individuals within an organization who promote and facilitate change efforts, often by encouraging innovation and adaptation to new processes or cultures.

External Change Agents

Individuals or entities outside of an organization who are brought in to facilitate, drive, or implement change within the organization, often to improve performance or address specific challenges.

Adaptability

The ability to adjust oneself readily to different conditions, environments, or scenarios, crucial for both personal development and organizational agility.

Managing Resistance

The process of recognizing, understanding, and addressing opposition or reluctance among individuals or groups when changes are implemented.