Supply Is Very Elastic When

question 99

Multiple Choice

Supply is very elastic when

• A)The quantity supplied does not change much when price rises.
• B)The quantity supplied has a large increase in response to an increase in price.
• C)The quantity supply does not respond to an increase in price.
• D)The quantity demanded causes the quantity supplied to increase.

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Definitions:

Olfaction

The sense of smell, a chemical sense involved in detecting and identifying airborne substances.

Sniffing

The act of inhaling substances, often used in the context of substance abuse, but also a basic action for detecting smells.

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