If Sellers Respond to Very Small Changes in Price by Adjusting

question 23

Multiple Choice

If sellers respond to very small changes in price by adjusting their quantity supplied by extremely large amounts,the price elasticity of supply approaches

• A)zero,and the supply curve is horizontal.
• B)zero,and the supply curve is vertical.
• C)infinity,and the supply curve is horizontal.
• D)infinity,and the supply curve is vertical.

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Definitions:

Big Five

A model in psychology that outlines five broad dimensions of personality: openness, conscientiousness, extraversion, agreeableness, and neuroticism.

Personality Factors

Elements that contribute to the development of an individual's personality, including traits, behaviors, and emotions.

Extraversion

A personality trait characterized by sociability, talkativeness, assertiveness, and high energy levels.

Stressful Life Events

Occurrences that significantly alter an individual's life, requiring substantial adjustment and potentially leading to psychological strain.