A Perfectly Elastic Supply Curve Is a Horizontal Line

question 13

True/False

A perfectly elastic supply curve is a horizontal line.

---

Definitions:

Universal Gravity

A fundamental force of nature described by Newton's law, which states that every mass exerts an attractive force on every other mass.

Comparative Inference

A method of reasoning and drawing conclusions based on the comparison between different cases, data sets, or scenarios.

Familiarity

Close acquaintance with or knowledge of something.

Familiarity Criterion

A standard whereby something is judged or evaluated based on how well known or recognized it is.