If the Price Elasticity of Supply for a Good Increases

question 56

Multiple Choice

If the price elasticity of supply for a good increases over time

• A)quantity supplied becomes more sensitive to price.
• B)quantity demanded is not sensitive to price.
• C)quantity supplied becomes less sensitive to price.
• D)quantity demanded is very sensitive to price.

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Definitions:

Continuous Schedule

A method of operation or production that runs continuously through 24 hours without interruption, typical in processes that cannot be halted without significant cost or waste.

Behaviour Acquired

Refers to actions or conduct that an individual learns from their environment or through experiences, as opposed to innate or inherited behaviors.

Acquired-needs Theories

Theories suggesting that people's needs are acquired over time based on their life experiences, influencing their motivation and behavior.

Performance

The action or process of carrying out or accomplishing an action, task, or function.