Which Statement Is True

question 212

Multiple Choice

Which statement is true?

• A)The supply curve in the market period is always perfectly inelastic.
• B)The supply curve for a perishable good,such as ripe strawberries,is perfectly elastic.
• C)Business firms cannot respond to increases in demand for their product in the short run.
• D)The long-run supply curve is more elastic than the short-run supply curve.

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Definitions:

Logistic Equation

A mathematical model used to describe the growth of populations under limiting factors, showing how a population can reach a carrying capacity.

Exponential Growth

A pattern of data that increases more rapidly in proportion to the growing total number, commonly seen in populations or investments.

Carrying Capacity

The maximum population size of a species that an environment can sustain indefinitely, given the food, habitat, water, and other necessities available in the environment.

Logistic Equation

A mathematical model used to describe the growth of populations under limiting conditions, showing a sigmoid curve.