Which of the Following Situations Is Represented by a Nearly

question 70

Multiple Choice

Which of the following situations is represented by a nearly horizontal supply curve?

• A)Small price changes lead to small changes in quantity demanded of the good.
• B)Small price changes lead to small changes in quantity supplied of the good.
• C)Producers of the good are not operating efficiently.
• D)Producers of the good are not maximizing profit.
• E)Small changes in the price of the good lead to large changes in the quantity supplied of the good.

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Definitions:

Prejudiced

Holding preconceived opinions or judgments without sufficient knowledge or examination.

Intrinsic Motivation

The internal desire to perform a task for its own sake because it is interesting or enjoyable, without relying on external rewards or pressures.

Prejudice

Preconceived opinion or bias against an individual or group without sufficient knowledge, thought, or reason.

Self-esteem

Someone's internal judgement of their own significance or value.