In This Figure (Figure 13

question 64

Multiple Choice

In this figure (Figure 13.21) the grey (Leda clay) and dark (sand) layers are not horizontal because:

• A) sand is easily deformed by the weight of Leda clay.
• B) Leda clay was deformed by the weight of an observer.
• C) of the soft sediment deformation processes.
• D) sand will flow and deform if it is in contact with rainwater.

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Definitions:

Kinked-demand Curve

A demand curve that has a distinct bend or kink, typically illustrating that a firm in an oligopoly will experience a different elasticity of demand for price increases compared to price decreases.

Price Cut

A reduction in the price of a good or service to attract more customers or boost sales.

Price Increase

A rise in the cost of goods or services, often measured by inflation rates or observed in market prices.

Demand Curve

A graph that represents the relationship between the price of a good or service and the quantity of it that consumers are willing and able to purchase at various prices.