If a Product Has a Short-Run Elasticity of Supply Equal

question 352

Multiple Choice

If a product has a short-run elasticity of supply equal to zero, then an increase in the demand for the product will

• A)have no effect on price or quantity sold.
• B)increase price and leave quantity sold unchanged.
• C)increase price and reduce the quantity sold to zero.
• D)leave the price unchanged and reduce the quantity sold.

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Definitions:

Projection

An estimation or forecast of future outcomes based on current or past data.

HR Estimates

Approximations or forecasts concerning human resources needs, including staffing levels and budgeting for salaries or training.

Human Capital Flow

The change in the stock of human capital over time. Factors that affect the flow of human capital include terminations, promotions, lateral movements, and demotions.

Human Capital Stock

The collective skills, knowledge, and abilities possessed by an organization's workforce considered as an asset or investment.