Which of the Following Statements Is Not Valid When Supply

question 80

Multiple Choice

Which of the following statements is not valid when supply is perfectly elastic?

• A)The elasticity of supply approaches infinity.
• B)The supply curve is horizontal.
• C)Very small changes in price lead to very large changes in quantity supplied.
• D)The time period under consideration is more likely a short period rather than a long period.

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Definitions:

Needs

Internal states that drive action that is necessary to survive or thrive.

Primary Emotions

Fundamental emotions, such as joy, sadness, anger, and fear, that are universal and biologically based.

Pride

A feeling of self-respect and personal worth, often associated with achieving something significant.

Happiness

A state of well-being and contentment, often associated with positive emotions and life satisfaction.