In Which of the Following Situations Is a Person the LEAST

question 347

Multiple Choice

In which of the following situations is a person the LEAST likely to do nothing:

• A) The person sees a victim, but doesn't have training to do first aid.
• B) The person sees a victim and there are many others around.
• C) The person sees a victim collapse next to him or her.
• D) The person sees two children, who look similar, fighting.

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Definitions:

Long-Run

A period in which all factors of production and costs are variable, allowing companies the flexibility to make changes in production capacity and operations.

Few Substitutes

Refers to a market condition where there are not many alternative products or services available to consumers, which often leads to less competition and higher prices.

Inelastic Demand

A situation in which the demand for a product does not change much in response to price changes.

Close Substitutes

Products that serve similar functions or needs and can easily replace one another in the eyes of the consumer.