Which of the Following Statements Is Not Valid When Supply

question 80

Multiple Choice

Which of the following statements is not valid when supply is perfectly elastic?

• A)The elasticity of supply approaches infinity.
• B)The supply curve is horizontal.
• C)Very small changes in price lead to very large changes in quantity supplied.
• D)The time period under consideration is more likely a short period rather than a long period.

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Definitions:

Norepinephrine

A neurotransmitter that is also a hormone secreted by the adrenal medulla.

Sympathetic System

A part of the autonomic nervous system responsible for the body's 'fight or flight' response, regulating involuntary body functions like heart rate and blood flow.

Ganglionic Neurons

Neurons that are part of the autonomic nervous system located in ganglia, which act as relay points for transmitting signals from the central nervous system to target organs.

Terminal Ganglia

Clusters of nerve cell bodies located near or within the organs they innervate, typically in the peripheral nervous system.