If the Quantity Supplied Is the Same Regardless of Price,then

question 61

Multiple Choice

If the quantity supplied is the same regardless of price,then supply is

• A)elastic.
• B)perfectly elastic.
• C)perfectly inelastic.
• D)inelastic.

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Definitions:

Unionists

Individuals or members of a labor union representing workers' interests.

Productivity

The measure of the efficiency of a person, machine, factory, system, etc., in converting inputs into useful outputs.

Efficiency

The ratio of useful output to total input, referring to the effective use of resources without waste.

Skill-Based Pay

A compensation system that establishes pay levels based on the skills or qualifications an employee possesses, rather than the job position alone.