Which of the Following Statements Is Not Valid When Supply

question 80

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 very 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:

Shock

A sudden and intense emotional or physical reaction to an unexpected event or piece of information.

Intended Goal

A planned or desired outcome that an individual or group aims to achieve.

Frustration

A feeling of upset or annoyance resulting from being unable to achieve a goal or satisfy a need.

Instrumental Aggression

Aggression aimed at achieving a specific goal, often involving hurting another as a means to an end rather than as an end in itself.