If a Supplier Faces a Perfectly Horizontal Demand Curve and Sets

question 33

Multiple Choice

If a supplier faces a perfectly horizontal demand curve and sets his price slightly higher than the demand curve itself, he can expect:

• A) no change in his total revenues.
• B) everyone to begin buying his product.
• C) a complete loss of revenues.
• D) a new demand curve.

---

Definitions:

Thought Processes

Thought processes refer to the mental activities involved in understanding, processing, and communicating information.

Accidents

Unplanned, unforeseen events that can cause damage or injury due to a lack of intention or predictable cause.

Blindsight

A phenomenon where people who are perceptually blind in certain areas of their visual field demonstrate some response to visual stimuli without consciously perceiving them.

Parallel Processing

The ability of the brain to simultaneously process incoming stimuli of differing quality, facilitating complex tasks like vision and motor control.