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.

---

Definitions:

Theoretical Perspectives

Distinct frameworks or viewpoints through which social phenomena are analyzed and interpreted in sociology.

Applied Sociology

A branch of sociology that seeks to apply sociological theories and methods to solve practical social problems.

Sociological Research

The systematic study of social behaviors, societies, and phenomena to understand human interactions and social structure.

Social Problems

Challenges or issues within society that are recognized as detrimental to individuals, communities, or the environment, prompting the need for reform or intervention.