Scenario 5-3 Suppose That the Supply of Aged Cheddar Cheese Is Inelastic

question 58

Multiple Choice

Scenario 5-3
Suppose that the supply of aged cheddar cheese is inelastic, and the supply of bread is elastic. Both goods are considered to be normal goods by a majority of consumers. Suppose that a large income tax increase decreases the demand for both goods by 10%.
-Refer to Scenario 5-3. The price elasticity of supply for bread could be

• A) -1.
• B) 0.
• C) 0.5.
• D) 1.5.

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Definitions:

Na+ Channels

Specialized proteins in cell membranes that allow sodium ions to enter or leave a cell, playing a key role in generating electrical signals.

SA Node

The sinoatrial node, a group of cells located in the right atrium of the heart that initiates the electrical impulses governing the heart rate, often considered the heart's natural pacemaker.

Depolarization

The process by which the resting potential of a cell membrane becomes less negative, leading to the initiation of an action potential.

Heart Rate

The number of heartbeats per unit of time, usually measured in beats per minute (bpm), indicating the heart's workload and overall cardiovascular health.