Which of the Following Is True of Perfectly Elastic Supply

question 102

Multiple Choice

Which of the following is true of perfectly elastic supply?

• A) An increase in price will not change the quantity supplied.
• B) The supply price remains constant.
• C) Elasticity of supply is zero.
• D) The supply curve is vertical.

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Definitions:

Piaget's Processes

Jean Piaget's cognitive development theory highlighting the processes children use to develop logical thinking from infancy to adulthood.

Assimilation

in psychology, refers to the cognitive process of integrating new information into existing cognitive schemas, beliefs, or ideas.

New Situations

Circumstances or environments that an individual has not previously encountered, requiring adaptation or new responses.

Piaget's Processes

Cognitive development theories proposed by Jean Piaget that describe how children develop logical thinking from infancy through adolescence.