If the Supply of a Good Is Relatively Elastic, This

question 80

Multiple Choice

If the supply of a good is relatively elastic, this means that the quantity supplied of the good is

• A) not very sensitive to the price of the good.
• B) highly sensitive to the price of the good.
• C) unrelated to the price of the good.
• D) none of the above.

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Private Citizen

An individual who does not hold any official or public position and is not involved in the affairs of government.

Harvard Professor

A faculty member at Harvard University, typically involved in teaching and research activities.

Senate Committee

A committee that is a part of the United States Senate, responsible for evaluating legislation, conducting hearings, and overseeing federal agencies and programs.

Foreign Relations

Foreign relations encompass the management of relationships and dealings between countries, including diplomacy, trade policies, treaties, and international agreements.