If the Long-Run Market Supply Curve Is Perfectly Elastic, an Increase

question 80

Multiple Choice

If the long-run market supply curve is perfectly elastic, an increase in demand will cause the final equilibrium to be at:

• A) the original price but at a smaller output.
• B) a higher price with a higher output.
• C) the original price but with a higher output.
• D) a higher price but with the same output.

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Definitions:

Group Interaction

The process of communication and interaction that takes place among members of a group, influencing dynamics, decision-making, and individual behavior.

External View

Looking at a situation or problem from an outsider's perspective, which can help in understanding the broader context or seeing solutions not apparent from an internal viewpoint.

Instantaneous Changes

Sudden alterations or transitions in behavior, thought, or condition that occur without a gradual progression.

Overwhelming Others

Exerting intense pressure or influence on others that can lead to stress or discomfort.