If a supply curve is a horizontal line, supply is said to be
A) unit elastic. B) inelastic. C) perfectly elastic. D) perfectly inelastic.
C
Economics
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Which of the following describes the relationship of price and quantity supplied based on the law of supply?
a. Firms are willing to produce a greater quantity of a good when the price of the good is higher. b. Firms' production levels are not correlated with the price of a good. c. The supply curve slopes downward. d. As price increases, producers have more market power than consumers.
Economics
Which of the following types of mergers are of greater concern as being anticompetitive among antitrust regulators?
a. Horizontal mergers b. Vertical mergers c. Conglomerate mergers d. Horizontal, vertical and conglomerate mergers are of equal concern as being anticompetitive
Economics