For a Given Shift in Demand, the Less Elastic Is

question 31

Multiple Choice

For a given shift in demand, the less elastic is supply, the

• A)greater is the shift in demand.
• B)greater is the change in equilibrium quantity.
• C)smaller is the shift in demand.
• D)greater is the change in price.
• E)smaller is the change in price.

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Definitions:

Presence of Others

The effect that the physical or imagined presence of other people has on an individual's behavior, thoughts, and feelings.

Minority Influence

The process by which a smaller number of individuals can change the opinions or behaviors of the majority, often through consistency and confidence in their stance.

Majority

The greater part or number; the number greater than half the total.

Self-Confidence

An individual's belief in their own abilities, capacities, and worth, which influences their actions and attitudes.