_____ Won the Nobel Prize in 1963 for Being the First

question 7

Multiple Choice

_____ won the Nobel Prize in 1963 for being the first to describe the electrical activity of neurons.

• A)Young
• B)von Helmholtz
• C)Hodgkin and Huxley
• D)Watson and Crick

---

Definitions:

Market Supply

The total quantity of a good or service that is available for purchase at a given price in a market.

Deadweight Loss

The decrease in economic effectiveness happening when a good or service does not reach or cannot reach its equilibrium state.

Monopsony Power

The market power held by a single buyer in a market, allowing them to influence prices and terms of trade.

Elasticity Of Market

A measure of how the quantity demanded or supplied of a good changes in response to price or other economic factors.