The Price Elasticity of Supply Measures

question 14

Multiple Choice

The price elasticity of supply measures:

• A) the response of a supply shift to changes in technology.
• B) how much supply changes when the prices of inputs change.
• C) the responsiveness of quantity supplied to changes in prices.
• D) all of the above.

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Definitions:

Totipotent

Describes cells with the capability to differentiate into any type of cell in an organism, including the development of a complete organism.

Differentiated

A state or process in which cells or tissues undergo a change from a less specialized form to a more specialized form, often acquiring distinct structural or functional features.

Embryonic Mass

A cell cluster formed in early embryonic development that will differentiate into various tissues and organs as growth progresses.

Blastula

An early stage of embryonic development in animals, characterized by a sphere of cells surrounding a central fluid-filled cavity.