The Fundamental Determinant of the Elasticity of Supply Is How

question 260

True/False

The fundamental determinant of the elasticity of supply is how quickly per-unit costs increase with an increase in production.

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Definitions:

Pain

An unpleasant sensory and emotional experience associated with actual or potential tissue damage, or described in terms of such damage.

Conditioned Stimulus Preexposure Effect

A phenomenon where exposure to the conditioned stimulus prior to pairing it with the unconditioned stimulus decreases the effectiveness of conditioning.

Conditioning

The process of learning associations between environmental stimuli and behavioral responses, fundamental to behavioral psychology.

Stimulus

Any event or situation that evokes a response from an organism.