Consider a Linear, Upward Sloping Supply Curve

question 47

Multiple Choice

Consider a linear, upward sloping supply curve. If the supply curve shifts upward, then:

• A) the price elasticity of supply will increase.
• B) the price elasticity of supply will increase if the slope of the supply curve is greater than one.
• C) the price elasticity of supply will increase if the slope of the supply curve is greater than one and the lowest price needed to induce firms to supply anything is positive.
• D) the price elasticity of supply will be constant.
• E) none of the above

---

Definitions:

Nomadism

A lifestyle characterized by moving across landscapes in search of resources, such as pasture for livestock, rather than staying in one fixed location.

Semi-Sedentism

describes a way of life in which people regularly move within a certain area to exploit seasonal resources but also maintain some permanent or semi-permanent settlements.

Industrial Revolution

A period of major industrial growth and technological innovation that began in the 18th century, significantly transforming societies and economies.

Diesel Engine

A type of internal combustion engine that runs on diesel fuel, known for its efficiency and used in vehicles, machinery, and generators.