A Perfectly Inelastic Supply Curve Is A

question 216

Multiple Choice

A perfectly inelastic supply curve is a:

• A) vertical line indicating that a very large increase in price will increase the quantity supplied.
• B) vertical line indicating that even a very large increase in price won't increase the quantity supplied.
• C) horizontal line indicating that a very small increase in price will increase the quantity supplied.
• D) horizontal line indicating that even a very small increase in price won't increase the quantity supplied.

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Definitions:

Productivity

A measure of the efficiency of production, often calculated as the ratio of outputs to inputs in a given time period.

Productivity Growth

An increase in the efficiency of production in an economy, typically measured by the output of goods and services per unit of input, such as labor or capital, over time.

Computerization

Computerization involves the use of computers and software to perform tasks, manage data, and automate processes in various fields and industries.

Productivity Growth

An increase in the efficiency of production, leading to a greater output of goods and services without an increase in input.