A Decrease in Supply Will Cause the Smallest Increase in Price

question 33

Multiple Choice

A decrease in supply will cause the smallest increase in price when

• A)both supply and demand are inelastic.
• B)demand is elastic and supply is inelastic.
• C)both supply and demand are elastic.
• D)demand is inelastic and supply is elastic.

Identify the subjects and themes of Teotihuacano murals and their cultural significance.

Understand the roles and social practices related to pottery and metallurgy in ancient American cultures.

Understand the basic concepts of performance measurement in terms of quantity, quality, cost, or time.

Calculate and interpret the need for action based on discrepancies between desired and actual performance.

---

Definitions:

Flexible

Able to adjust readily to different conditions or circumstances; versatile and adaptable.

Analogy

A comparison between two things, typically for the purpose of explanation or clarification, showing how they are similar in some respects.

Correspondence

The relationship or similarity between two or more entities or phenomena; in communication, it refers to the exchange of letters or messages.

Problem Solving

The process of identifying a challenge and finding solutions to overcome or manage it.