If, for a Given Percentage Increase in Price, Quantity Supplied

question 39

Multiple Choice

If, for a given percentage increase in price, quantity supplied increases by a proportionately larger percentage, then supply is

• A)unit elastic.
• B)perfectly elastic.
• C)inelastic.
• D)elastic.

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Definitions:

Operant Conditioning

The learning process that reinforces or punishes behavior. Also called instrumental conditioning.

Evolutionary Theory

A scientific theory that explains the diversity of life on Earth by means of natural selection, where organisms adapt to their environment over generations.

Modeling

A method of learning that involves observing and imitating others' behavior.

Cognitive Theories

Theories in psychology that explain human behavior and mental processes through the study of how people think, perceive, remember, and learn.