If Crude-Oil Prices Increase as the Total Amount of Gasoline

question 44

Multiple Choice

If crude-oil prices increase as the total amount of gasoline increases,the supply curve for gasoline will be relatively steep and the price of elasticity of supply of gasoline will be:

• A)relatively large.
• B)perfectly vertical.
• C)perfectly horizontal.
• D)relatively low.

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Definitions:

Spinal Reflexes

Spinal reflexes are automatic, involuntary movements or actions of the body that are initiated in the spinal cord without the involvement of the brain, such as the knee-jerk reaction.

Automatic

Processes or actions that are performed without conscious thought or intention, often as a result of learning or habituation.

Motor Nerves

Nerves that transmit impulses from the central nervous system to muscles, causing them to contract and produce movement.

Special Receptors

Cells or nerve endings that respond to changes in the environment by converting stimuli into electrical signals for the nervous system.