Supply Is Inelastic If

question 165

Multiple Choice

Supply is inelastic if

• A)a small percentage change in price results in a larger percentage change in quantity supplied.
• B)a large percentage change in price results in a smaller percentage change in quantity supplied.
• C)the good is a normal good.
• D)the good is an inferior good.
• E)the good has many substitutes.

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Definitions:

Community Need

The demands or requirements essential for the wellbeing and improvement of a specific community.

Cause Marketing

Collaborative efforts between a for-profit and a nonprofit organization for mutual benefit, where the partnership aims to increase support for a social cause while also benefiting the for-profit partner.

Commercial Co-Venturers

A partnership between a for-profit business and a nonprofit organization for mutual benefit, often involving marketing efforts that also support a charitable cause.

Corporate Sponsorships

Financial or in-kind support provided by a business to an event, activity, person, or organization in exchange for some form of commercial return.