The Supply Curve Will Be More Elastic If

question 161

Multiple Choice

The supply curve will be more elastic if

• A)the good has few substitutes
• B)the time the producer has to adjust is long
• C)the time frame for adjusting to price changes is short
• D)demand is elastic
• E)demand is inelastic

---

Definitions:

Psychophysics

The scientific study of the relationship between the physical properties of stimuli and the sensations and perceptions they produce.

Signal Detection Research

A field of study that explores how decisions are made under conditions of uncertainty and the processes through which signals are distinguished from noise.

Sensation

The process by which sensory receptors and the nervous system receive and represent stimulus energies from the environment.

Light Bulb

A device that produces light from electricity, consisting of a filament housed in a glass vacuum or filled with inert gas, illuminating when electric current passes through.