Scenario 5.1 The Demand for Noodles Is Given by the Following Equation

Multiple Choice

Scenario 5.1
The demand for noodles is given by the following equation: Q = 20 - 4P + 0.2I - 2P_x. Assume that P = $8, I = 200, and P_x = $10.
-Supply curves applicable to shorter periods of time tend to:

A) be represented by horizontal lines parallel to the quantity axis.
B) be perfectly elastic.
C) be more inelastic than supply curves that apply to longer periods of time.
D) be more elastic than supply curves that apply to longer periods of time.
E) have a price elasticity of supply that is approximately equal to 1.