Which of the Following Statements Is Valid When the Market

question 96

Multiple Choice

Which of the following statements is valid when the market supply curve is vertical?

• A)Market quantity supplied does not change when the price changes.
• B)Supply is perfectly elastic.
• C)An increase in market demand will increase the equilibrium quantity.
• D)An increase in market demand will not increase the equilibrium price.

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Definitions:

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Kuznet Curve

An economic theory that suggests inequality increases in the early stages of a country's development but decreases as the country becomes more economically advanced.

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