Which of the Following Statements Is Not Valid When Supply

question 116

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 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:

Task Identity

The degree to which a job requires completion of a whole and identifiable piece of work.

Autonomy

The capacity to make an informed, uncoerced decision or the independence in personal or professional life.

Job Design

The process of organizing tasks, duties, and responsibilities into a productive unit of work for achieving certain organizational objectives.

Manufacturing Plant

A facility where goods are produced on a large scale using machinery and skilled labor.