If Demand Is Perfectly Elastic,then

question 33

Multiple Choice

If demand is perfectly elastic,then

• A)the demand curve is a horizontal line
• B)supply is perfectly inelastic
• C)supply is perfectly elastic
• D)the demand curve is a vertical line
• E)the demand curve is downward sloping

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Definitions:

Prices of Inputs

The costs associated with purchasing the raw materials, labor, and other resources needed to produce goods or services.

Produce

To create or manufacture goods from raw materials, often associated with agricultural products and food production.

Transport

The movement of people, animals, or goods from one location to another through various modes such as road, rail, air, or sea.

Price of Coconuts

This refers to the market value at which coconuts can be bought or sold, influenced by factors such as supply, demand, and geographical location.