If the Supply of a Good Is Relatively Inelastic, This

question 200

Multiple Choice

If the supply of a good is relatively inelastic, this means that the quantity supplied of the good is

• A) not very sensitive to the price of the good.
• B) highly sensitive to the price of the good.
• C) unrelated to the price of the good.
• D) none of the above.

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Definitions:

Operant Conditioning

A method of learning that utilizes rewards and punishments for behavior, aiming to increase the likelihood of desirable responses and decrease the likelihood of undesired ones.

Pay Schedules

The system or plan by which an organization determines when employees will receive their wages or salaries.

Industrial Psychologist

A professional who applies psychological theories and principles to the workplace, aiming to improve productivity, select and train employees, and enhance job satisfaction.

Classical Conditioning

An educational method where two signals are consistently linked together, resulting in a reaction initially triggered by the second signal, ultimately being provoked by just the first signal.