When a Supply Curve Is Relatively Flat

question 78

Multiple Choice

When a supply curve is relatively flat,

• A)sellers are not very responsive to changes in price.
• B)supply is relatively inelastic.
• C)supply is relatively elastic.
• D)Both a and b are correct.

---

Definitions:

NASCAR

The National Association for Stock Car Auto Racing, a sanctioning body that oversees various types of auto racing in the United States.

Receivers

Consumers who read, hear, or see the message sent by a source during the communication process.

Decoding

The process by which a receiver interprets and understands the message sent by a communicator.

Communication Process

The method by which information is transferred and understood between two or more parties, typically involving a sender, message, medium, receiver, and feedback.