If the Supply Curve Is Perfectly Elastic, Then an Increase

question 250

Multiple Choice

If the supply curve is perfectly elastic, then an increase in demand will:

• A)​increase both the price and the quantity exchanged.
• B)​increase the price but result in no change in the quantity exchanged.
• C)​increase the quantity exchanged but result in no change in the price.
• D)​decrease the price but not change the quantity exchanged.

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Definitions:

Hart and Risley

Researchers known for their study on early childhood language development and the impact of socio-economic status on vocabulary growth.

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Philosophical stance where the morality of an action is judged solely by its consequences.

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Individuals who believe that pleasure or happiness is the primary goal of life.

Ethical Moralists

Philosophers or thinkers who base their ethical theories on principles of moral goodness.