If the Quantity Supplied Responds Only Slightly to Changes in Price,then

question 31

Multiple Choice

If the quantity supplied responds only slightly to changes in price,then

• A)supply is said to be elastic.
• B)supply is said to be inelastic.
• C)an increase in price will not shift the supply curve very much.
• D)even a large decrease in demand will change the equilibrium price only slightly.

---

Definitions:

Income Statement

A financial statement that shows a company's revenues and expenses over a specific period, resulting in net profit or loss.

Trend Analysis

The practice of collecting information and attempting to spot a pattern, often used in financial contexts to forecast future movements based on historical data.

Base Year

A fixed reference point or year used for comparison purposes in financial and economic analysis.

Rate of Return

The increase or decrease in value of an investment over a certain time frame, shown as a percentage of the investment's original price.