A Perfectly Elastic Supply Curve

question 54

Multiple Choice

A perfectly elastic supply curve

• A)has no relevance, since real-world supply curves are never perfectly elastic
• B)is a horizontal straight line
• C)is a vertical straight line
• D)is an upward-sloping straight line
• E)is not a straight line

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Definitions:

Study

An organized investigation or analysis aimed at discovering new knowledge or understanding existing knowledge in a systematic way.

Observational Studies

Research methods in which subjects are observed in their natural setting without any manipulation by the researcher.

Researchers

Individuals or professionals who conduct detailed study and systematic investigation into something with the aim of discovering or revising facts, theories, applications, etc.

Control

In an experiment, a standard against which the results of a test are compared; controls are kept constant to isolate the effect of the independent variable.