If Demand Increases When Supply Is Perfectly Price Elastic, Then

question 16

Multiple Choice

If demand increases when supply is perfectly price elastic, then

• A) consumer surplus will remain the same.
• B) consumer surplus will increase.
• C) it is not possible to predict the change in consumer surplus.
• D) consumer surplus will decrease with the increase in price.

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Definitions:

Mandibular Processes

Refers to the extensions or projections of the mandible bone, which contribute to jaw formation and are critical in chewing and speech.

Foramen Ovale

In the fetal heart, the oval opening in the septum secundum; the persistent part of septum primum acts as a valve for this interatrial communication during fetal life; postnatally, the septum primum becomes fused to the septum secundum to close the foramen ovale, forming the fossa ovale.

Septum Primum

First septum in the embryonic heart that arises on the wall of the originally single atrium of the heart and separates it into right and left chambers.

Interatrial Septum

The wall of tissue that separates the right and left atria of the heart.