Inelastic Supply Occurs Whenever the Elasticity of Supply Value Is

question 234

Multiple Choice

Inelastic supply occurs whenever the elasticity of supply value is

• A)negative and < -1.
• B)any positive number.
• C)positive and > 1.
• D)positive and < 1.

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Definitions:

Security

The condition of being protected against physical or psychological harm or other types of danger; can also refer to measures taken to ensure this state.

Evolution

The concept that different species are descended from common ancestors but have evolved over time, acquiring different genetic characteristics as a function of different environmental demands.

Natural Selection

A fundamental mechanism of evolution where organisms better adapted to their environment tend to survive and produce more offspring.

Variability

The degree to which different data points in a set differ from each other and from their average value.