Statement I: a Perfectly Inelastic Supply Curve and a Perfectly

question 146

Multiple Choice

Statement I: A perfectly inelastic supply curve and a perfectly inelastic demand curve are represented the same way on a graph.
Statement II: A tax increase will increase supply.

• A)Statement I is true and statement II is false.
• B)Statement II is true and statement I is false.
• C)Both statements are true.
• D)Both statements are false.

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Definitions:

Polar Covalent

A type of chemical bond where electrons are unequally shared between atoms, resulting in partial electrical charges.

Nonpolar Covalent

A type of chemical bond where two atoms share a pair of electrons equally, typically between atoms of similar electronegativity.

Negatively Charged

describes an object or particle that has more electrons than protons, resulting in a net negative electric charge.

Synthesis Reaction

A chemical reaction in which two or more substances combine to form a more complex product.