Supply Is Elastic If

question 62

Multiple Choice

Supply is elastic 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)a small percentage change in demand results in a large percentage change in quantity supplied.
• D)the good is an inferior good.
• E)the good is a normal good.

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Definitions:

Digital Journal

An electronic version of a diary or journal, often used for personal reflections or to track research progress, stored digitally.

Unobtrusive Method

Research techniques that do not require direct interaction with research subjects, minimizing the researcher's influence on the data.

Archival Strategies

Refers to methods and practices used for collecting, preserving, and organizing documents and records, both digital and physical, in archives.

Social Comparisons

The process of evaluating oneself by comparing with others, often to assess one’s abilities, status, or opinions.