A supply curve that is parallel to the horizontal axis suggests that
A) the industry is organized monopolistically.
B) the relationship between price and quantity supplied is inverse.
C) a change in demand will change price in the same direction.
D) a change in demand will change the equilibrium quantity but not price.
Correct Answer:
Verified
Q284: Supply curves tend to be
A)perfectly elastic in
Q285: Q286: For an increase in demand, the price Q287: Studies of the minimum wage suggest that Q288: Q290: A supply curve that is a vertical Q291: The supply of known Monet paintings is Q292: Studies show that the demand for gasoline Q293: Farmers often find that large bumper crops Q294: Unlock this Answer For Free Now! View this answer and more for free by performing one of the following actions Scan the QR code to install the App and get 2 free unlocks Unlock quizzes for free by uploading documents
A)perfectly
