If the Supply for a Good Is Elastic, That Means

question 228

Multiple Choice

If the supply for a good is elastic, that means that when price increases, the

• A) supply will increase.
• B) quantity supplied will decrease.
• C) quantity supplied will increase by a smaller percentage than the price increased.
• D) quantity supplied will increase by a greater percentage than the price increased.

---

Definitions:

Conformity

The act of matching attitudes, beliefs, and behaviors to group norms, politics, or being similar to others in a given group.

Group Behavior

The study of how group dynamics influence individual behavior, decision-making, and social interactions within a group setting.

Milgram Experiment

A landmark psychological study on obedience, demonstrating that people are willing to obey authority figures even when asked to perform actions conflicting with their personal conscience.

Dependent Variable

Variable in an experiment that represents the measurable response or behavior of the subjects in the experiment.