If the Quantity of a Good Supplied Is Not Very

question 11

Multiple Choice

If the quantity of a good supplied is not very sensitive to the price of the good, this is illustrated by a

• A) demand curve that is relatively flat (more horizontal).
• B) demand curve that is relatively steep (more vertical).
• C) supply curve that is relatively flat (more horizontal).
• D) supply curve that is relatively steep (more vertical).

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Definitions:

Behavior

Actions or reactions of an individual or group in response to external or internal stimuli.

Remittitur

A court-ordered reduction of an excessive jury verdict in a civil case.

Trial Court

The court where a case is initially tried, involving presentation of evidence and witness testimony before a judge or jury for a verdict.

Prima Facie

Latin for 'at first sight,' it refers to evidence or facts that are sufficient to prove a case or establish a claim unless disproven by other evidence.