A Perfectly Elastic Supply Curve

question 45

Multiple Choice

A perfectly elastic supply curve

• A)has an elasticity of 1
• B)has an elasticity less than 1
• C)has an elasticity of 0
• D)is horizontal
• E)is upward sloping

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Definitions:

Social Responsibility

The obligation of a business to contribute to society in a beneficial manner, beyond its own interests and legal requirements.

Business Profits

The financial gain realized when the revenue generated from business activities exceeds the expenses, taxes, and costs associated with sustaining the business operations.

Business Purpose

Business purpose is the fundamental reason for an organization's existence, beyond just making a profit, often reflecting its values, mission, and the needs it seeks to fulfill.