A supply curve that is parallel to the quantity axis is
A) perfectly elastic.
B) perfectly inelastic.
C) relatively inelastic.
D) unitary elastic.
Answer: A
Economics
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The greater the differentiation among the products of monopolistically competitive firms, the lesser is the price-elasticity of demand
a. True b. False Indicate whether the statement is true or false
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The U.S. government sets a minimum wage, which is a:
a. price floor. b. price ceiling. c. point of equilibrium. d. recommended level.
Economics
Fill in the above table.
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