If There Is No Change in Demand That Will Cause

question 150

Multiple Choice

If there is no change in demand that will cause a change in the price then the supply for the good is

• A)Perfectly elastic
• B)Inelastic
• C)Perfectly unit elastic
• D)Perfectly inelastic

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Definitions:

Hindsight Bias

The tendency to believe, after an event has occurred, that one would have predicted or expected the outcome.

Scapegoating

The practice of unfairly blaming an individual or group for problems or negative outcomes that they did not cause.

Automatic Reactions

Instantaneous responses or behaviors that occur without conscious decision-making, often as a result of learned behaviors or innate reflexes.

Racial Bias

Prejudice or preferential treatment towards people based on their race, often rooted in stereotypes and societal structures.