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:

Entire Output Word

In digital systems, it refers to the complete set of bits (binary digits) output by a device or system at one time, representing a piece of information or data.

Sequencer Instructions

Instructions used in programmable logic controllers (PLCs) to execute a series of steps in a predefined order, often used for repetitive or sequential operations.

Nonretentive

Referring to a device or process that does not retain data or state upon power loss or reset.

Outputs

The results produced by a computer or controller, typically after processing input data, which are then transmitted to other devices or users.