A supply curve that is horizontal reflects a supply that
A) is elastic.
B) is inelastic.
C) is unit elastic.
D) has a zero elasticity.
A
You might also like to view...
As a perfectly competitive firm produces at the point where price equals marginal cost, it has no supply curve, only a supply point
a. True b. False Indicate whether the statement is true or false
When inflation is much higher than expected, which of the following is true?
a. Nominal incomes are lower than expected. b. Real interest rates are higher than expected. c. Income is redistributed from those whose expenditures are fixed toward those who receive a fixed income. d. Nominal interest rates are lower than expected. e. Real interest rates are lower than expected.
The prices of goods at a grocery store are listed in dollars. Which function of money does this illustrate?
.If Asian economies suffer a serious economic slump, what will happen to U.S. net exports and Aggregate Demand (AD)?
What will be an ideal response?