If the Supply Curve for Aspirin Is Perfectly Elastic, Then

question 22

Multiple Choice

If the supply curve for aspirin is perfectly elastic, then a reduction in demand will cause the equilibrium price to:

• A) stay the same and the equilibrium quantity to fall.
• B) fall and the equilibrium quantity to fall.
• C) rise and the equilibrium quantity to stay the same.
• D) rise and the equilibrium quantity to fall.

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Definitions:

Natural Disasters

Severe and extreme weather events or earth processes that cause damage and pose risks to human health and safety.

Primary Appraisal

The initial process of evaluating a situation to determine its significance, potential impact, and whether it constitutes a threat, challenge, or harm/loss.

Relevant

Having significant and demonstrable bearing on the matter at hand or being closely connected to a subject.

APA

The American Psychological Association, a leading scientific and professional organization representing psychology in the United States.