If the Quantity Supplied of a Good Responds Strongly to a Change

question 102

Multiple Choice

If the quantity supplied of a good responds strongly to a change in the price of an input:

• A)the price elasticity of demand is inelastic
• B)the income elasticity of supply is inelastic
• C)the income elasticity of supply is elastic
• D)the price elasticity of supply is elastic

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Definitions:

Internal Distractions

Disturbances or diversions originating within oneself, such as thoughts or emotions, that interrupt attention or concentration.

Physical Disabilities

Impairments that limit the physical function of limbs or movement, often requiring accommodations.

Pain

A distressing perception and affective reaction linked to genuine or prospective damage to bodily tissues.

Facial Expression

The movement or position of the muscles beneath the skin of the face, often conveying an individual's emotions.