When Economists Say the Price Elasticity of Supply Is Elastic

question 200

Multiple Choice

When economists say the price elasticity of supply is elastic, they mean that

• A) suppliers are willing to produce much larger amounts of their good.
• B) suppliers are willing to produce only a small amount more of their good.
• C) consumers are willing to purchase much larger quantities of the good.
• D) the change in quantity supplied is relatively small compared to the change in price.

---

Definitions:

Autobiographical Memories

Personal memories of individuals that encompass events, experiences, and emotions across one's lifespan.

Brain Regions

Specific areas of the brain specialized for distinct functions, such as the frontal lobes or hippocampus.

Dopamine-Producing Cells

Neurons that synthesize and release dopamine, a neurotransmitter involved in reward, motivation, memory, attention, and even regulating body movements.

Parkinson

A degenerative disorder of the central nervous system that primarily affects motor function, often characterized by tremors, stiffness, and slow movement.