If the Quantity Supplied of a Product Stays the Same

question 72

Multiple Choice

If the quantity supplied of a product stays the same no matter what its price, then the elasticity of supply of the product is

• A)perfectly elastic.
• B)unit elastic.
• C)zero.
• D)perfectly inelastic.
• E)infinity.

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Definitions:

Visuo-Spatial Sketchpad

The visuo-spatial sketchpad is a component of working memory responsible for the temporary storage and manipulation of visual and spatial information.

Phonological Loop

A component of the working memory model responsible for processing and storing verbal and auditory information.

Episodic Memory

The retention of information about the where, when, and what of life’s happenings—that is, how individuals remember life’s episodes.

Central Executive

A component of working memory in cognitive psychology that controls and regulates cognitive processes, directing attention and managing tasks.