Supply Is Inelastic If

question 107

Multiple Choice

Supply is inelastic if

• A)a small percentage change in price results in a large percentage change in quantity supplied.
• B)a large percentage change in price results in a small percentage change in quantity supplied.
• C)the good is a normal good.
• D)the good is an inferior good.
• E)the good has many substitutes.

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Definitions:

Fetal Alcohol Spectrum Disorder

A range of effects that can occur in an individual whose mother drank alcohol during pregnancy, including physical, behavioral, and learning issues.

Trimester(s)

Periods of three months, especially used to divide the nine-month period of human pregnancy into three stages for medical and developmental monitoring.

Haloperidol

An antipsychotic medication used to treat psychiatric disorders such as schizophrenia.

Chlorpromazine

An antipsychotic medication used to treat a variety of mental health disorders by blocking dopamine receptors in the brain.