If Two Supply Curves Pass Through the Same Point and One

question 303

Multiple Choice

If two supply curves pass through the same point and one is steep and the other is flat,which of the following statements is correct?

• A) The flatter supply curve represents a supply that is inelastic relative to the supply represented by the steeper supply curve.
• B) The steeper supply curve represents a supply that is inelastic relative to the supply represented by the flatter supply curve.
• C) Given two prices with which to calculate the price elasticity of supply,that elasticity is the same for both curves.
• D) A decrease in demand will increase total revenue if the steeper supply curve is relevant,while a decrease in demand will decrease total revenue if the flatter supply cure is relevant.

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Definitions:

Exposure Therapy

Counterconditioning technique in which a therapist seeks to treat a client’s fear or anxiety by presenting the feared object or situation with the idea that the person will eventually get used to it.

Client-Centered Therapy

A form of psychotherapy developed by Carl Rogers that emphasizes providing a supportive emotional environment for clients.

Active Listening

A technique of carefully listening and responding to others, focusing fully on the speaker's words, in order to understand the message being conveyed.

Personal Growth

The process of improving oneself through activities that enhance one's talents, awareness, and identity.