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.

---

Definitions:

Uncertain Circumstances

Situations with unpredictable outcomes, often leading to risk and requiring adaptability and contingency planning.

Growth Mindset

The belief that abilities and intelligence can be developed through dedication and hard work, embracing challenges and learning from feedback.

Entrepreneurial Venture

A new business initiative undertaken by an entrepreneur, often characterized by innovation and risk-taking.

Growth Mindset

A concept referring to the belief that one's abilities and intelligence can be developed through dedication, hard work, and perseverance.