A Perfectly Elastic Supply Curve Is Expressed Graphically as A(n)

question 131

Multiple Choice

A perfectly elastic supply curve is expressed graphically as a(n) :

• A) downward sloping line or curve.
• B) upward sloping line or curve.
• C) vertical line.
• D) horizontal line.

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Definitions:

Maintenance Costs

Expenses incurred for the upkeep and repair of assets to ensure they remain operational and efficient.

Legally Separate

A state in which entities are distinctly independent in terms of ownership, liability, and legal identity.

Corporate Powers

The legal capacities and rights granted to a corporation by law, allowing it to act as a legal entity for conducting business, entering into contracts, and owning property.

Bonded Debt

Long-term debt secured by a guarantee (bond) that obligates the issuer to repay the borrowed amount at specified terms, commonly used by corporations and governments.