If Demand Is Highly Elastic and Supply Shifts to the Left

question 138

Multiple Choice

If demand is highly elastic and supply shifts to the left:

• A) price will rise significantly; quantity hardly changes at all.
• B) price will hardly change at all; quantity will decline significantly.
• C) price will rise significantly and quantity will fall significantly.
• D) price and quantity will hardly change at all.

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Definitions:

Synaptic Integration

The summing of excitatory and inhibitory signals by a postsynaptic cell.

Postsynaptic Neuron

The neuron on the receiving end of a synapse, which receives signals from another neuron (the presynaptic neuron) through neurotransmitters.

Excitatory

Pertains to stimuli or substances that increase neuronal activity or facilitate the firing of neurons.

Inhibitory

Pertains to any process or substance that slows down or stops a particular reaction or activity.