If the Supply Curve Is Perfectly Elastic, Then an Increase

question 15

Multiple Choice

If the supply curve is perfectly elastic, then an increase in demand results in no change in the

• A)equilibrium quantity but a large increase in the equilibrium price.
• B)equilibrium quantity but a large decrease in the equilibrium price.
• C)equilibrium price but a decrease in the equilibrium quantity equal to the change in demand.
• D)equilibrium price but an increase in the equilibrium quantity equal to the change in demand.
• E)equilibrium quantity or the equilibrium price.

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Definitions:

Socialization

The process of learning socially acceptable behaviors, attitudes, and values.

Positive Parenting

A parenting approach centered on understanding, support, and encouragement, focusing on positive reinforcement rather than punishment.

Authoritarian

Relating to a style of governance or leadership that emphasizes strict obedience to authority at the expense of personal freedom, or a personality type that favors such an approach.

Nativist Position

The perspective in cognitive development that emphasizes the role of genetic inheritance and biology in learning and behavior, often opposing the notion that understanding comes solely from experience or environment.