When a Supply Curve Is Relatively Flat,what Do We Know

question 33

Multiple Choice

When a supply curve is relatively flat,what do we know

• A)The supply is relatively elastic.
• B)The supply is relatively inelastic.
• C)Quantity supplied changes in the same proportion that price changes.
• D)Quantity supplied changes slightly when the price changes.

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Definitions:

Standardized Test

A test administered and scored in a consistent manner to assess the performance of individuals on a comparative basis.

Standard Deviation

A statistical measure of the dispersion or variability within a data set, indicating how much individual data points differ from the mean value of the set.

Normally Distributed

A statistical term describing data that falls into a symmetrical, bell-shaped curve when plotted.

Illusion

A false perception or misinterpretation of a real sensory experience.