When a Supply Curve Is Relatively Flat

question 78

Multiple Choice

When a supply curve is relatively flat,

• A)sellers are not very responsive to changes in price.
• B)supply is relatively inelastic.
• C)supply is relatively elastic.
• D)Both a and b are correct.

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Definitions:

Social-Cognitive Perspective

A viewpoint in psychology that emphasizes the importance of observational learning, self-efficacy, situational influences, and cognitive processes in understanding behavior.

John B. Watson

An American psychologist who established the psychological school of behaviorism, emphasizing the study of observable behavior and rejecting the notion of internal processes.

Reinforcement

The process in behavioral psychology that strengthens or encourages a behavior by providing a reward or positive outcome.

Maladaptive Behavior

Actions or tendencies that are counterproductive to oneself or to one's well-being, often a response to environmental stressors.