If three pizza delivery companies agree to decrease their output and raise the price of their pizzas to $15, this is an example of ________.

A closed shop is one in which

A) a union is prohibited. B) some members belong to the union while others do not. C) belonging to a union is a condition of employment. D) the union is a co-manager of the day-to-day operations of the firm.

Supply curves that are horizontal are called perfectly elastic and have an infinite elasticity, whereas supply curves that are vertical are called perfectly inelastic and have a zero elasticity

a. True b. False Indicate whether the statement is true or false