If the Demand Curve Is Horizontal and the Supply Curve

question 13

Multiple Choice

If the demand curve is horizontal and the supply curve is vertical,shifts of the supply curve will lead to

• A) changes in the equilibrium quantity only.
• B) changes in the equilibrium price only.
• C) changes in both the equilibrium price and quantity.
• D) changes in the quantity demanded only.

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Definitions:

Percentage

A portion, share, or rate expressed as a fraction of 100, used to compare parts of a whole.

Political Efficacy

Political efficacy refers to the belief or confidence of citizens in their power to influence political processes and effect change through their actions and participation.

Decreased

A reduction in size, quantity, or intensity of a particular thing or phenomenon.

Increased

Describes something that has become larger or greater in size, amount, or degree.