In General, the Flatter the Supply Curve, the

question 206

Multiple Choice

In general, the flatter the supply curve, the

• A) fewer substitutes are available for the good.
• B) more substitutes are available for the good.
• C) less responsive producers are to the price.
• D) more responsive producers are to the price.

---

Definitions:

Dissociation

The process or action by which a member of an entity such as a partnership or association formally ends their association with, or participation in, that entity.

Retiring Partner

A partner who leaves a partnership, ending their association with the business.

Discharged

In legal contexts, to release someone from an obligation, duty, or liability.

Existing Liabilities

Financial obligations or debts that a company or individual currently owes and is responsible for repaying.