If Supply Is Inelastic, It Follows That

question 138

Multiple Choice

If supply is inelastic, it follows that

• A)an increase in price will not change quantity supplied.
• B)a decrease in price will not change quantity supplied.
• C)consumers will pay 100 percent of any tax placed on sellers.
• D)for any given percentage increase in price, quantity supplied will increase by a relatively greater percentage.
• E)for any given percentage increase in price, quantity supplied will increase by a relatively smaller percentage.

Understand the benefits of buying by performance or function.

Acknowledge the significance of supply management criteria such as quality, quantity, delivery, and cost.

Understand the concept of the shadow in Jung's theory and how it relates to consciousness.

Identify and describe Jung's personality types and how they influence behavior.

---

Definitions:

Control Group

In experimental research, the group of subjects that does not receive the treatment being tested, serving as a benchmark for measuring the effect of that treatment.

Experimental

Pertaining to or based on experiments, which are structured and controlled tests or investigations to establish or test a hypothesis.

Placebo

An inert or non-effective substance or treatment given to a participant in a study, used to contrast with an active substance to test its efficacy.

Test

An assessment or examination intended to measure a test-taker's knowledge, skill, aptitude, physical fitness, or classification in many other topics.