A Value of Infinity for the Elasticity of Supply of Some

question 124

Multiple Choice

A value of infinity for the elasticity of supply of some product implies that

• A)the supply curve is horizontal.
• B)supply is very unresponsive to price.
• C)the supply curve is vertical.
• D)the product will be supplied at any price.
• E)no product will be supplied at any price.

---

Definitions:

Secondary Obligation

An obligation that arises indirectly or as a result of another primary obligation, often in legal or financial contexts.

Statute of Frauds

A legal concept that requires certain types of contracts to be written and signed to be enforceable.

Statute of Frauds

A legal concept that requires certain types of contracts to be executed in writing and signed by the party against whom enforcement is sought, to be legally enforceable.

Interest in Land

A legal right or claim to use, control, or dispose of real property.