If the Price Elasticity of Supply Is Zero,then

question 29

Multiple Choice

If the price elasticity of supply is zero,then

• A)supply is more elastic than it is in any other case.
• B)the supply curve is horizontal.
• C)the quantity supplied is the same,regardless of price.
• D)a change in demand will cause a relatively small change in the equilibrium price.

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Definitions:

Salaries and Wages Payable

Salaries and wages payable are current liabilities recorded on a company's balance sheet, representing the amount owed to employees for work performed that has not yet been paid.

Taxes Payable

Liabilities owed to government entities, representing taxes due to be paid by individuals or organizations.

Property Plant and Equipment

Long-term tangible assets held for business use and not expected to be converted to cash in the upcoming year.

Total Assets

The sum of all resources owned by a company as reflected on the balance sheet, including both current and non-current assets.