Which of the Following Statements Is Not Valid When the Market

question 54

Multiple Choice

Which of the following statements is not valid when the market supply curve is vertical?

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

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Definitions:

Restaurant

A business that prepares and sells food and drinks to customers.

Tips

A small amount of money given to someone as a way of thanking them for their service or advice, or suggestions intended to provide guidance or advice.

Valid Argument

An argument such that its premises logically imply or entail its conclusion which makes it impossible for all of its premises to be true and its conclusion to be false.