The Use of the Phrase "Other Things Constant" in Supply

question 90

Multiple Choice

The use of the phrase "other things constant" in supply and demand analysis indicates that:

• A) an equilibrium price has been reached.
• B) an equilibrium quantity has been reached.
• C) we are considering changes in just one factor.
• D) we are considering all the changes which might take place in actual markets.

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Definitions:

Tibial Nerve

A branch of the sciatic nerve that passes down the lower leg and is responsible for innervating the muscles of the lower leg and foot.

Sciatic Nerve

The largest nerve in the human body, running from the lower back down through each leg, responsible for movement and sensation.

Radial Nerve

A nerve in the arm that supplies movement and sensation to the arm, forearm, and hand.

Coracobrachial

A muscle in the shoulder that assists in flexing and adducting the arm at the shoulder joint.