The Supply of a Good Tends to Be More Elastic

question 67

Multiple Choice

The supply of a good tends to be more elastic if:

• A) a change in the price of the good causes only a small change in the quantity supplied.
• B) the good is considered a necessary good.
• C) production can be expanded without causing a big increase in the price of its inputs.
• D) an increase in production has only a minimal impact on demand for the good.

---

Definitions:

Hegel

G. W. F. Hegel was a German philosopher who developed a comprehensive philosophical framework known for its dialectical method, emphasizing the progress of history and consciousness.

Marx

A revolutionary thinker and philosopher, Karl Marx, known for his critical analysis of capitalism and his contributions to the development of Marxist theory.

Heidegger

A German philosopher known for his existential and phenomenological explorations of being, time, and the concept of "Dasein".

Social Beings

Individuals viewed in relation to their participation and roles in societies and communities, emphasizing the importance of social interaction.