If the Supply Curve for a Product Is Horizontal, Then

question 101

Multiple Choice

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

• A) equal to zero
• B) equal to one
• C) greater than one, but less than infinity
• D) equal to infinity

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Definitions:

VOIP Telephone Calls

Voice Over Internet Protocol calls, which use the internet for telecommunication, allowing for voice and video calls without the need for traditional phone lines.

Consensus Buying Center

A buying center in which all members of the team must reach a collective agreement that they can support a particular purchase.

Autocratic Buying Center

A decision-making group within a business where one individual makes decisions on behalf of the entire group, often without much input from others.

Autocratic

A leadership or management style characterized by individual control over all decisions with little input from group members, often leading to a top-down approach in decision making.