If a 20 Percent Increase in the Price of a Good

question 250

Multiple Choice

If a 20 percent increase in the price of a good does not change the quantity supplied,the

• A) supply is perfectly inelastic.
• B) supply is unit elastic.
• C) supply is perfectly elastic.
• D) supply is elastic.
• E) None of the above answers is correct.

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Definitions:

Haploid

Refers to cells that contain one complete set of chromosomes, typical of gametes in sexually reproducing organisms.

Mycorrhizae

A symbiotic association between a fungus and the roots of a vascular host plant, beneficially affecting nutrient uptake and resistance to pathogens.

Algae

Photosynthetic organisms that are primarily aquatic and can be either unicellular or multicellular.

Lichens

Lichens are symbiotic associations between a fungus and a photosynthetic partner, usually algae or cyanobacteria, living together in a mutually beneficial relationship.