If Two Supply Curves Pass Through the Same Point and One

question 15

Multiple Choice

If two supply curves pass through the same point and one is steep and the other is flat,which of the following statements is correct

• A)The flatter supply curve is more inelastic.
• B)The steeper supply curve is more inelastic.
• C)The steeper supply curve is more elastic
• D)The elasticity of supply will be the same for both curves.

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Definitions:

Disadvantaged Groups

Populations or communities that experience a lower quality of life or diminished opportunities for success and wellbeing due to social, economic, or political barriers.

Similarly Deprived

Describes individuals or groups who lack similar resources, rights, or privileges, often leading to a shared disadvantage.

Group Polarization

The process where prevailing opinions or beliefs within a group intensify after the group engages in discussion.

Normative Social Influence

The influence of other people that leads us to conform in order to be liked and accepted by them.