Suppose Demand Is Perfectly Elastic,and the Supply of the Good

question 277

Multiple Choice

Suppose demand is perfectly elastic,and the supply of the good in question decreases.As a result,

• A)the equilibrium quantity decreases,and the equilibrium price is unchanged.
• B)the equilibrium price increases,and the equilibrium quantity is unchanged.
• C)the equilibrium quantity and the equilibrium price both are unchanged.
• D)buyers' total expenditure on the good is unchanged.

Learn the stages of the brainstorming process and group creativity methods.

Recognize the importance of intrinsic motivation and optimal experiences in nurturing creativity.

Understand the effects of creativity on business and organizational outcomes.

Distinguish between intrinsic and extrinsic motivation in the context of creativity.

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Definitions:

Medical Reasons

Justifications or explanations for actions, decisions, or treatments based on health or physiological needs.

Cannabis

A psychoactive drug derived from the Cannabis plant, used for medical or recreational purposes.

District of Columbia

The capital of the United States, a federal district that is not part of any state.

Synesthesia

A condition in which one sense is simultaneously perceived by one or more additional senses, such as seeing colors when hearing music.