If, for a Given Percentage Decrease in Price, Quantity Supplied

question 118

Multiple Choice

If, for a given percentage decrease in price, quantity supplied decreases by a proportionately smaller percentage, then supply is

• A)unit elastic.
• B)perfectly elastic.
• C)inelastic.
• D)elastic.

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Definitions:

Oropharynx

A part of the pharynx situated between the soft palate and the epiglottis, involved in swallowing.

Nasopharynx

The upper part of the throat located behind the nose, which forms part of the respiratory system.

Laryngopharynx

The part of the pharynx that lies below the epiglottis and above the esophagus, involved in both respiration and digestion.

Trachea

The windpipe, a tube that connects the larynx to the bronchi of the lungs, allowing the passage of air.