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:

Communicating

The process of exchanging information, ideas, feelings, and messages between individuals or groups, often through a common system of signs, behaviors, or devices.

False Consensus Effect

The cognitive bias whereby people overestimate how much others share their beliefs, attitudes, and behaviors.

Anchor

A key piece of information used as a reference point for decision-making or assessment, often in negotiations or estimations.

Attitudes

A psychological tendency expressed by evaluating a particular entity with some degree of favor or disfavor.