If the Supply Curve for a Product Is Horizontal, Then

question 155

Multiple Choice

If the supply curve for a product is horizontal, then the elasticity of supply is:

• A)​equal to zero.
• B)​equal to one.
• C)​greater than one but less than infinity.
• D)​equal to infinity.

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Definitions:

Reptiles

Cold-blooded vertebrates that breathe air, usually lay eggs, and have scales covering their bodies, including snakes, lizards, crocodiles, and turtles.

Chordates

Deuterostome animals that, at some time in their lives, have a cartilaginous, dorsal skeletal structure called a notochord; a dorsal, tubular nerve cord; pharyngeal slits; a postanal tail; and an endostyle (or its derivative, a thyroid gland).

Cyanobacteria

Photosynthetic microorganisms, formerly known as blue-green algae, that are important in oxygen production and nitrogen fixation.

Marine Invertebrates

Animals without a backbone that live in marine environments, including species like jellyfish, sea stars, and corals.