An Important Assumption That Is Made When Constructing a Supply

question 532

Multiple Choice

An important assumption that is made when constructing a supply schedule is

• A) only price and quantity matter in determining supply.
• B) firms always want to sell a certain amount of a product.
• C) supply is too important to be left to the marketplace.
• D) all other determinants of supply are held constant.
• E) demand has a positive slope.

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Definitions:

Unconditioned Response

A natural, unlearned reaction to an unconditioned stimulus that occurs automatically without previous conditioning.

Conditioned Response

A learned response to a previously neutral stimulus through conditioning.

Unconditioned Response

This is an automatic, natural reaction to a stimulus that occurs without prior learning or conditioning.

Sneezing

An involuntary burst of air through the nose and mouth, usually caused by irritation of the nasal mucosa.