As the Period for Firms to Expand Output Is Lengthened

question 217

Multiple Choice

As the period for firms to expand output is lengthened, the elasticity of the market supply curve will

• A) approach zero.
• B) increase.
• C) decrease.
• D) remain the same since time does not affect the elasticity of market supply.

---

Definitions:

Self-discrepancy Theory

A psychological model that explains how the mismatch between an individual's actual self, ideal self, and ought self can lead to emotional discomfort.

Chemical Engineer

A professional who applies principles of chemistry, physics, and engineering to design and implement processes for producing, transforming, and transporting materials.

Small Discrepancy

a minor difference or deviation from what is expected, generally not sufficient to cause concern.

Auto-motive Theory

The theory suggesting that motivations can be automatically triggered by environmental cues without conscious intention.