For a Given Decrease in Supply, the Condition of Demand

question 56

Multiple Choice

For a given decrease in supply, the condition of demand that will result in no change in price is when demand is

• A)elastic.
• B)inelastic.
• C)perfectly elastic.
• D)perfectly inelastic.

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Definitions:

Displacement

The act of moving something from its place or position, often used in physics to describe the change in position of an object.

Psychoanalyst

A therapist specializing in psychoanalysis, a method of psychological therapy and theory developed by Freud, which emphasizes the exploration of the unconscious mind.

Biological Impulses

Innate urges or drives that dictate behavior, such as hunger, thirst, and reproduction.

Freud's Theory

A set of psychoanalytic theories developed by Sigmund Freud, centering on unconscious desires, childhood experiences, and sexual and aggressive instincts driving human behavior.