In the Following Graph, Q_S1 and Q_S2 Represent the Supply

question 28

Multiple Choice

In the following graph, Q_S1 and Q_S2 represent the supply curves and Q_D1 and Q_D2 represent the demand curves. Refer to the graph to answer the question:
Which of the following statements is true?

• A) The demand curve Q_D1 is more elastic than the demand curve Q_D2.
• B) The supply curve Q_S1 is less elastic than the supply curve Q_S2.
• C) An increase in supply will lead to a relatively smaller change in output along Q_D1.
• D) A decrease in supply from Q_S2 to Q_S1 will lead to a fall in the market price.

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Definitions:

Saltatory Conduction

The transmission of a neural impulse along a myelinated neuron; ion activity at one node depolarizes the next node along the axon.

Voltage-Activated

Pertains to ion channels in cell membranes that open or close in response to changes in membrane potential.

Action Potential

A rapid rise and subsequent fall in voltage or membrane potential across a cellular membrane, due to the movement of ions in and out of the neuron.

Voltage-Gated

Refers to a type of ion channel that opens or closes in response to changes in the electrical potential across a cell membrane.