If Sellers Do Not Adjust Their Quantities Supplied at All

question 42

Multiple Choice

If sellers do not adjust their quantities supplied at all in response to a change in price,

• A)advances in technology must be prevalent.
• B)the time period under consideration must be very long.
• C)supply is perfectly elastic.
• D)supply is perfectly inelastic.

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Definitions:

Negative Scores

Values that fall below the designated origin or point of reference, often indicating less than average results or deficits.

Frequency Distributions

A way of summarizing data that shows the number of observations that fall within a range of values.

Normal Distributions

Normal distributions are a type of statistical distribution that is symmetric and bell-shaped, where most occurrences take place around the central peak.

Independent Variables

Independent variables are the variables in a study that are manipulated or changed to observe their effect on other dependent variables.