If the Price of Corn Increases by 20 Percent and the Quantity

question 295

Multiple Choice

If the price of corn increases by 20 percent and the quantity supplied of corn increases by 30 percent,then supply is

• A) elastic and the elasticity of supply equals 1.5.
• B) inelastic and the elasticity of supply equals 1.5.
• C) elastic and the elasticity of supply equals 0.66.
• D) inelastic and the elasticity of supply equals 0.66.
• E) either elastic or inelastic, but more information about the elasticity of demand is needed to determine which.

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Definitions:

Tonic Receptors

Sensory receptors that respond to stimuli over a prolonged period, maintaining the perception of a sensation.

Action Potential

A quick, temporary change in the electrical charge of a cell's membrane, leading to the transmission of nerve impulses.

Gate Control Theory

A theory positing that pain signals encounter nerve gates at the spinal cord level that can block or allow the sensation of pain to travel to the brain.

Lateral Spinothalamic Tract

A pathway in the spinal cord that transmits pain and temperature sensations to the brain.