If Firms Do Not Increase Their Quantity Supplied When Price

question 201

Multiple Choice

If firms do not increase their quantity supplied when price changes, then supply is

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

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Definitions:

Contest

A promotional strategy that involves competition with prizes, encouraging engagement and participation from the target audience.

Premium

An amount paid in addition to a standard rate, often for higher quality or enhanced access to goods and services.

Consumer-Generated Content

Content created and shared by consumers about a product or service, often through social media or reviews, which can influence other consumers' perceptions.

Contests

Competitive events or challenges organized to engage an audience and promote a brand or product, often with prizes for the winners.